Nuheara signs agreement with SilverStream and secures 2.5 Million Funding

  • Jan 25, 2020 AEDT
  • Team Kalkine

 

Nuheara Limited (ASX:NUH) has entered into a Binding Preliminary Sales and Purchase Agreement with SilverStream in which SilverStream purchase certain royalty interests from the company for a total consideration of US$200,000.

The Royalty to be sold to SilverStream is a 1.5 per cent Net Smelter Royalty over the Mt Ida South/Quinns gold projects located in Western Australia and currently owned by Alt Resources Ltd.

The company has also raised $2.5 million funding with the Lind Global Macro Fund, LP, an entity managed by The Lind Partners. The funding will be provided as a secured convertible note with a twenty four month term and the proceeds will be used for mass production and marketing of the recently released IQbuds2 MAX and working capital requirements.

 

 

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