Dec 19, 2014
Vancouver, BC -- December 19, 2014: Kiska Metals Corporation ("Kiska" or the "Company") is pleased to announce that it has closed the Whistler royalty transactions announced on December 17, 2014, with net proceeds to Kiska of US$1.1 million.
Kiska acquired all of the interests of an underlying 1.5% NSR royalty holder (including the advance royalty payment obligations of US$50,000 per year) for the core claims comprising the Whistler project in return for a cash payment of US$750,000 and the issuance of 2,000,000 share purchase warrants. Each warrant entitles the holder to purchase one common share of Kiska at a price of $0.05 for a period of five years, subject to vesting over a period of 18 months.
The Company also granted a 0.75% NSR royalty interest on the entire Whistler project to a private equity fund for a purchase price of US$1.85 million. The Whistler project is now covered by an aggregate 2.75% NSR royalty, held entirely by the private equity fund. The aggregate NSR royalty is subject to a buy down provision whereby Kiska can reduce the NSR royalty to 2% upon payment of US$5 million on or before the due date of the first royalty payment.
About Kiska Metals Corporation
Kiska Metals Corporation is a prospect generator company with a diverse portfolio of gold and copper projects throughout North America and Australia. One of the more advanced assets is the Whistler property, Alaska, a district-scale gold-copper porphyry project that has excellent exploration potential. Kiska has numerous gold and copper projects available for option-joint venture as well as an extensive royalty portfolio.
On behalf of Kiska Metals Corporation
Grant Ewing, President and CEO
Neither 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.
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Kiska Metals Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Kiska's expectations are the risks detailed herein and from time to time in the filings made by Kiska Metals Corporation with securities regulators. Those filings can be found on the Internet at http://www.sedar.com and http://www.sec.gov.