British Virgin Islands-registered mining and exploration company Talon Metals Corp., together with its Brazilian subsidiary Talon Ferrous Mineracao Ltda., has signed a definitive agreement with Orion Mine Finance, for the sale of the 1 per cent net smelter returns royalty that Talon with its subsidiary holds over the Sao Jorge Gold Project in Brazil. The Sao Jorge Gold Project is wholly owned by Brazil Resources Inc.
Under the terms of the Sao Jorge Royalty Purchase Agreement, Orion Mine Finance has agreed to purchase the royalty for gross proceeds of US$1.9mln (approximately C$2.5mln). On August 25, 2015, Talon Metals announced the completion of the sale transaction.
