en.Wedoany.com Reported - Roxmore Resources Inc. (TSX: RM, OTCQX: GARLF, formerly Axcap Ventures Inc.) announced that it has completed the second payment for the acquisition of the Newton Gold Project. Pursuant to the Mineral Property Purchase Agreement signed on May 23, 2025, the Company issued 312,500 common shares to Carlyle Commodities Corp. (Carlyle), with a total deemed value of C$1,250,000, at an issuance price of C$4.00 per share, based on the 20-day volume-weighted average price as of June 2, 2026. The second payment shares were issued on June 3, 2026, the 12-month anniversary of the completion of the Newton Gold Project acquisition.

The second payment shares are subject to a statutory hold period of four months and one day from the date of issuance. Additionally, these shares are subject to voluntary resale restrictions: 25% of the second payment shares become tradable four months after issuance, with an additional 25% becoming tradable each subsequent month, until all shares are fully tradable seven months after issuance. In connection with the payment of the second payment shares, the Company issued 62,500 common shares (Finder Shares) to an independent finder pursuant to a finder's fee agreement, which are also subject to a statutory hold period of four months and one day from the date of issuance.

Roxmore Resources Inc. is focused on developing its flagship Converse Gold Project, one of the largest undeveloped gold deposits in Nevada, USA, not owned by a major mining company. The Converse Gold Project is a large-scale open-pit heap leach project located on the prolific Battle Mountain trend. With decades of experience in Nevada and globally, the Company's board and management are dedicated to unlocking the project's potential. For further details, please refer to the Company's technical report dated May 2, 2026, titled "NI 43-101 Technical Report on the Preliminary Economic Assessment for the Converse Project, Nevada, USA," available on the Company's website and on SEDAR+.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com