Vancouver, British Columbia – May 28, 2018 - Alba Minerals Ltd. (TSX-V: AA.V; AXVEF: US; Frankfurt: A117RU) (“Alba” or the “Company”)) is pleased to announce that it has entered into a property purchase agreement dated May 28, 2018 with Noram Ventures Inc. (“Noram”) (TSX-Venture: NRM; Frankfurt: N7R) and its wholly owned subsidiary, Green Energy Inc. (“Green Energy”), pursuant to which Alba will sell the 25% interest (the “Interest”) it has earned in certain mineral claims located in Clayton Valley, Nevada back to Noram and Green Energy.
In consideration for the Interest, Noram will issue to Alba, subject to TSX Venture approval, 3,800,000 common shares of Noram and make a cash payment to Alba of $400,000. Additionally, in the event that Noram undergoes a financing pursuant to which it issues from treasury common shares or other securities convertible or exercisable into common shares (a “Financing”), Alba shall have a right of first refusal to participate in the Financing and to acquire up to the number of shares and/or other securities being issued under the Financing, necessary in order for Alba to be able to maintain the same percentage ownership of shares of Noram as it would have immediately prior to the completion of the Financing.
The proposed transaction is subject to the approval of the TSX Venture Exchange.
Please visit our website for further information: www.albamineralsltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Sandy MacDougall”
Alba Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward looking statements”. Forward looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.