10/21/2021 | Press release | Distributed by Public on 10/22/2021 12:30
Toronto, Ontario, October 21, 2021 - Nubian Resources Ltd. (TSX-V: NBR | OTCQB: NBRFF) ("Nubian" or the "Company") is pleased to provide a further update on its property option agreement (the "Property Option Agreement") with Athena Gold Corporation (OTCQB: AHNR / CSE: ATHA) ("Athena") for the divestment of the Company's Excelsior Springs exploration project (the "Property") located in Esmeralda County, Nevada, USA. Nubian is pleased to report that Athena received listing approval from the Canadian Securities Exchange (the "Exchange") with the shares commencing trading October 18, 2021 under the symbol "ATHA". This listing fulfills the only outstanding condition precedent to Athena's exercise of its option to acquire the remaining 90% interest in the Property that it does not already beneficially own and further triggers a 30 day completion time and in connection therewith, the issuance of the remaining 45 million shares of Athena to be issued to Nubian in consideration of the 90% interest.
Martin Walter, President and CEO of Nubian stated, "We are pleased that Athena has achieved listing status on the Canadian Securities Exchange, allowing for finalizing the Company's divestment of the Excelsior Springs Project unlocking value for Nubian shareholders."
Details on the Property Option Agreement are included in Nubian's press releases dated September 20, 2021, August 13, 2020 and December 13, 2020.