Libra Enhances KoBold Earn-In Agreement at Flanders North
Libra Energy Materials (CSE: LIBR) has executed a Second Amending Agreement to its Earn-In Agreement with KoBold Exploration Canada. The amendment enhances their partnership at the Flanders North project in Ontario, focusing on streamlining exploration efforts and maintaining broader project exposure.
Key updates include reacquisition of previously lapsed mining claims and implementation of a more efficient process for schedule updates. The original Earn-In Agreement, established in November 2024, allows KoBold to earn interests in the Flanders North, Flanders South, and SBC projects through staged investments, while Libra maintains equity stakes, milestone payments, and royalties.
Libra Energy Materials (CSE: LIBR) ha firmato un Secondo Accordo di Modifica al suo Earn-In Agreement con KoBold Exploration Canada. La modifica rafforza la loro collaborazione nel progetto Flanders North in Ontario, concentrandosi su una maggiore efficienza nelle attività di esplorazione e mantenendo un'ampia esposizione ai progetti.
Tra le novità principali vi sono la riacquisizione di concessioni minerarie precedentemente scadute e l'adozione di un processo più snello per l'aggiornamento dei programmi. L'Earn-In Agreement originale, stipulato nel novembre 2024, consente a KoBold di acquisire interessi nei progetti Flanders North, Flanders South e SBC attraverso investimenti progressivi, mentre Libra mantiene partecipazioni azionarie, pagamenti legati a milestone e royalties.
Libra Energy Materials (CSE: LIBR) ha firmado un Segundo Acuerdo Modificatorio a su Acuerdo de Earn-In con KoBold Exploration Canada. La enmienda fortalece su colaboración en el proyecto Flanders North en Ontario, enfocándose en optimizar los esfuerzos de exploración y mantener una exposición amplia al proyecto.
Las actualizaciones clave incluyen la readquisición de concesiones mineras previamente caducadas y la implementación de un proceso más eficiente para las actualizaciones del cronograma. El Acuerdo de Earn-In original, establecido en noviembre de 2024, permite a KoBold obtener intereses en los proyectos Flanders North, Flanders South y SBC mediante inversiones escalonadas, mientras que Libra conserva participaciones accionarias, pagos por hitos y regalías.
Libra Energy Materials (CSE: LIBR)는 KoBold Exploration Canada와의 Earn-In 계약에 대한 두 번째 수정 계약을 체결했습니다. 이번 수정으로 온타리오의 Flanders North 프로젝트에서 탐사 작업을 간소화하고 프로젝트 전반에 대한 노출을 유지하는 데 중점을 두어 파트너십이 강화되었습니다.
주요 업데이트로는 이전에 만료된 광산 권리 재취득과 일정 업데이트를 위한 보다 효율적인 프로세스 도입이 포함됩니다. 2024년 11월에 체결된 원래의 Earn-In 계약은 KoBold가 단계별 투자를 통해 Flanders North, Flanders South, SBC 프로젝트에 대한 지분을 획득할 수 있도록 하며, Libra는 지분, 마일스톤 지급 및 로열티를 유지합니다.
Libra Energy Materials (CSE : LIBR) a signé un deuxième accord modificatif à son accord d'Earn-In avec KoBold Exploration Canada. Cet amendement renforce leur partenariat sur le projet Flanders North en Ontario, en se concentrant sur la rationalisation des efforts d'exploration et le maintien d'une exposition plus large au projet.
Les principales mises à jour incluent la réacquisition de concessions minières précédemment expirées et la mise en place d'un processus plus efficace pour les mises à jour des calendriers. L'accord d'Earn-In original, établi en novembre 2024, permet à KoBold d'acquérir des intérêts dans les projets Flanders North, Flanders South et SBC par des investissements échelonnés, tandis que Libra conserve des participations, des paiements liés aux étapes clés et des redevances.
Libra Energy Materials (CSE: LIBR) hat eine zweite Änderungsvereinbarung zu seinem Earn-In Agreement mit KoBold Exploration Canada unterzeichnet. Die Änderung stärkt die Partnerschaft beim Flanders North Projekt in Ontario, mit dem Fokus auf die Straffung der Explorationsbemühungen und die Aufrechterhaltung einer breiteren Projektbeteiligung.
Wesentliche Neuerungen umfassen die Rückerwerbung zuvor abgelaufener Bergbaurechte und die Einführung eines effizienteren Prozesses für Terminaktualisierungen. Das ursprüngliche Earn-In Agreement, das im November 2024 abgeschlossen wurde, ermöglicht KoBold, durch gestaffelte Investitionen Anteile an den Projekten Flanders North, Flanders South und SBC zu erwerben, während Libra Beteiligungen, Meilensteinzahlungen und Lizenzgebühren behält.
- Reacquisition of previously lapsed mining claims strengthens project footprint
- Implementation of streamlined process for future schedule updates
- Maintained significant upside through equity stakes, milestone payments, and royalties
- Enhanced flexibility in managing land acquisitions
- Previously lapsed mining claims indicate past land management issues
Toronto, Ontario--(Newsfile Corp. - August 7, 2025) - Libra Energy Materials Inc. (CSE: LIBR) (FSE: W0R0) ("Libra" or the "Company") is pleased to announce the execution of a Second Amending Agreement (the "Amendment") to its Earn-In Agreement ("EIA") with KoBold Exploration Canada Inc. ("KoBold"), dated November 13, 2024, and previously amended on February 12, 2025. This amendment refines the terms of the agreement to streamline exploration efforts at the Flanders North project in Ontario, Canada, ensuring Libra's ability to maintain broader exposure over the Flanders North project area.
The Amendment updates the schedules of the EIA to reflect the reacquisition of certain previously lapsed mining claims within the Flanders North project area, ensuring the project's footprint remains robust and focused. Additionally, it introduces a streamlined process for future schedule updates, allowing both parties to efficiently adapt to project developments through mutual consent. This increased flexibility allows both companies to quickly manage land acquisitions without losing momentum on the exploration front.
"This amendment strengthens our agreement with KoBold by sharpening the project's scope and enhancing our ability to execute efficiently," said Koby Kushner, CEO of Libra Energy Materials. "We continue to work closely with KoBold as we wrap up the first phase of exploration on the Flanders North, Flanders South, and SBC projects."
As outlined in prior press releases (December 2, 2024, and February 20, 2025), the EIA enables KoBold to earn interests in the Flanders North, Flanders South, and SBC projects through staged project-level investments while allowing Libra to retain significant upside through equity stakes, milestone payments, and royalties.
About Libra Energy Materials Inc.
Libra (CSE: LIBR) (FSE: W0R0) is a Canadian mineral exploration company focused on the discovery and development of the critical minerals necessary for the green energy transition. Libra's Flanders North, Flanders South, and SBC projects in Ontario are being explored under a CAD
About KoBold Metals Company
KoBold Metals Company is a US-based exploration and mining company that combines expertise in geosciences with artificial intelligence, machine learning, and data science to improve and accelerate the exploration process in search for the critical minerals necessary for the global energy transition.
For more information, please contact the Company at:
Koby Kushner, P.Eng., CFA
Chief Executive Officer, Libra Energy Materials Inc.
e: kkushner@libraenergymaterials.com
t: 416-846-6164
Forward-Looking Information
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FAQ
What changes were made to Libra Energy Materials' agreement with KoBold?
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