Osiris One Metals Executes Definitive Agreement to Divest the Urgakh Naran Project
Rhea-AI Summary
Osiris One Metals (TSXV: OSM, OTC: IONGF) has signed a definitive agreement to fully divest the Urgakh Naran Project by selling all shares of its wholly owned Mongolian subsidiary, ION Energy LLC, for a lump sum of US$200,000 net of liabilities.
According to Osiris One, the transaction will not affect its 20% free carried interest in the Victory Copper Gold Project in Mongolia, which is being advanced by Trinity One Metals. The company states it is refocusing on its Western Range targets and continues to assess additional growth opportunities. The deal remains subject to customary closing conditions.
Positive
- UN Project divestment consideration US$200,000 lump sum net of liabilities
- Retains 20% free carried interest in Victory Copper Gold Project in Mongolia
- Management highlights strategic refocus on Western Range exploration targets and growth opportunities
Negative
- Divestment of Urgakh Naran Project ends direct ownership of ION Energy LLC in Mongolia
- Transaction has not closed yet and is subject to customary closing conditions
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2026) - Osiris One Metals Ltd (TSXV: OSM) (FSE: JI8) ("Osiris One" or the "Company") announces that it has entered into a definitive agreement to fully divest its Urgakh Naran Project ("UN Project").
Pursuant to the Transaction, the Company has agreed to fully divest and sell all outstanding shares of its wholly owned Mongolian subsidiary, ION Energy LLC. The Company will receive a lump sum of US
Sreenath Didugu, Chief Executive Officer of Osiris One, commented:
"We are pleased to have taken this step in refocusing the Company. The Company is focused on extracting value from Western Range, where we have several defined and underexplored targets, and a significant geological record.
"Further, Osiris One maintains its
"The Company also continues to assess further growth opportunities."
The Transaction is subject to the satisfaction of customary closing conditions.
About Osiris One Metals Ltd.
Osiris One Metals Ltd. (TSXV: OSM) is a precious and base metals explorer focused on constructing a portfolio of high growth assets. The Company aims to acquire and develop projects with strong geological fundamentals, clear catalysts, and the potential to create significant value.
On behalf of the Board
Sreenath Didugu
CEO
sdidugu@qcap.com.au
Cautionary Note Regarding Forward Looking Information
This news release contains "forward looking information" within the meaning of applicable Canadian securities laws. Often, but not always, forward looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "aims", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking information in this news release includes statements related to: the completion and timing of the Transaction; the timing and payment of consideration; the Company extracting value from Western Range; the Company exploring further growth opportunities and the Company acquiring and developing projects with strong geological fundamentals, clear catalysts, and the potential to create significant value.
Forward looking information is based on management's reasonable assumptions, estimates, expectations and opinions as of the date of this news release. A variety of factors, including known and unknown risks, many of which are beyond the Company's control, could cause actual results to differ materially from the forward looking information in this news release. These include meeting the conditions to close the Transaction, receipt of any required TSXV acceptance, the availability and reliability of historical records, the ability to verify historical information, the results of any future exploration and confirmation programmes (which cannot be guaranteed), availability of capital and labour, changes in laws or permitting requirements, and such other factors as may impact the Transaction and any future activities in respect of the Project.
Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward looking statements contained herein are made as of the date of this news release and the Company undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. Accordingly, readers should not place undue reliance on forward looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304860