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Integral Metals Corp. Announces the Proposed Sale of the Zigzag Project and the Settlement of the Related Litigation

CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Integral Metals Corp. (CSE:INTG) (the "Company" or "Integral") announces that, subject to the satisfaction of customary closing conditions, it has reached an agreement with Volta Metals Ltd. ("Volta") to sell the Zigzag Project, located in the Thunder Bay Mining Division in Ontario, Canada (the "Zigzag Project"), to Volta and settle the litigation with Volta in respect of Integral's acquisition of the Zigzag Project from Reflex Advanced Materials Corp. (the "Volta Claim").

Pursuant to the property sale agreement (the "PSA") entered into between Integral and Volta, Integral has agreed to sell the Zigzag Project to Volta in consideration for C$350,000 in cash and the release by Volta of all claims against Integral with respect to the Volta Claim and related matters. Pursuant to the PSA, Integral has also agreed to release Volta from all claims that it may have with respect to the Volta Claim and related matters. Following the closing of the transactions set forth in the PSA, the Volta Claim, as between Integral and Volta, will be settled.

The sale of the Zigzag Project to Volta and the related settlement of the Volta Claim are subject to certain customary conditions precedent, and are expected ...