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Velocity Minerals Says US$59 Million Sale its of Bulgarian Assets to Proceed

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Last updated: 11/29/2024 11:59:30

11:59 AM EST, 11/29/2024 (MT Newswires) -- Velocity Minerals (VLC.V) on Friday said the Turkish buyer, Turkerler, completed its due diligence on Velocity's Rozino gold project and other Bulgarian assets, and will proceed with the US$59 million purchase.

Arrangements are being finalized for the payment of the US$2.95 million break fee by Turkerler.

A special meeting for Velocity shareholders is scheduled for Jan. 17, next year. The transaction is expected to close by Jan. 31.

Velocity was last seen unchanged at $0.18 on the TSX Venture Exchange.

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