27 March 2018
Kivalliq Energy Corporation today announced, pursuant to an agreement signed on March 27, 2018, receipt of a CDN$600,000 payment from Sandstorm Gold Ltd. in return for Kivalliq granting to Sandstorm up to a 1.75% net smelter returns royalty payable on all future mineral production from Kivalliq's Baffin Gold Property, located in Nunavut Territory, Canada. At any time up and until 36 months after signing the agreement, Kivalliq may reduce the Royalty to a 1.0% NSR by making a CAD$1.0 million payment to Sandstorm. Net proceeds will be used to fund exploration and property costs at Kivalliq’s projects in Canada, as well as for general corporate purposes. Kivalliq also announced that the company has exercised the option to earn a 100% project interest on a portion of the Baffin Gold Property from Commander Resources Ltd., as described in a news release May 8, 2017, by issuing a final 250,000 Kivalliq shares to Commander.