Volta Metals to acquire full ownership of Springer Rare Earth and Gallium Deposit
2026-07-27 11:40:03 [Print]
Volta Metals Ltd. recently signed a definitive purchase agreement to acquire the remaining 20% interest in the Springer Rare Earth Element (REE) and Gallium Deposit. The transaction, valued at approximately CAD $3 million, involves an agreement with RZJ Capital Management LLC for a combination of CAD $1 million in cash and 10 million common shares at a deemed price of CAD $0.20 per share.
The Springer property spans 4,750 hectares within the traditional territory of the Nipissing First Nations, located near Sturgeon Falls, Ontario---approximately 70 kilometers east of Sudbury. Upon closing, Volta will secure 100% registered and beneficial ownership of the property, which includes all mining patents, claims, surface rights, and easements, subject only to existing royalties and standard permitted encumbrances.
The share consideration is structured in two tranches: 5 million shares will be issued upon execution of the agreement, with an additional 5 million shares to be issued within seven days of the Company's next equity financing, or by June 14, 2027---whichever comes first. All share issuances are contingent upon the requisite approvals from the Canadian Securities Exchange.
Volta Metals, based in Toronto, currently holds and operates a diversified critical minerals portfolio in Ontario, encompassing rare earths, gallium, lithium, cesium, and tantalum projects.
The Springer property spans 4,750 hectares within the traditional territory of the Nipissing First Nations, located near Sturgeon Falls, Ontario---approximately 70 kilometers east of Sudbury. Upon closing, Volta will secure 100% registered and beneficial ownership of the property, which includes all mining patents, claims, surface rights, and easements, subject only to existing royalties and standard permitted encumbrances.
The share consideration is structured in two tranches: 5 million shares will be issued upon execution of the agreement, with an additional 5 million shares to be issued within seven days of the Company's next equity financing, or by June 14, 2027---whichever comes first. All share issuances are contingent upon the requisite approvals from the Canadian Securities Exchange.
Volta Metals, based in Toronto, currently holds and operates a diversified critical minerals portfolio in Ontario, encompassing rare earths, gallium, lithium, cesium, and tantalum projects.
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