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Noranda Income Fund and BaseCore Metals Announce Stream Agreement Stream Proceeds to Fund Strategic Long-term Investments in Zinc Processing Facility

TORONTO, July 27, 2020 (GLOBE NEWSWIRE) -- Noranda Income Fund (TSX:NIF.UN) (the “Fund”) through its wholly-owned subsidiary, Noranda Income Limited Partnership, and BaseCore Metals LP (“BaseCore”) today entered into a definitive stream agreement over reference zinc processed and refined at the Fund’s electrolytic zinc processing facility (the “Stream”) located in Salaberry-de-Valleyfield, Quebec (the “Processing Facility”). BaseCore will advance a cash consideration of US$40 million for the Stream. Proceeds will be used to improve the Processing Facility’s filtration and cooling processes to support increased zinc production capacity (the “Expansion Projects”) and for general corporate purposes. Read More

from Financial Post https://ift.tt/3f4RTwO
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