Velocity Minerals Ltd. Announces Share Purchase Agreement with Türker Global
Vancouver, British Columbia – Velocity Minerals Ltd. (TSXV: VLC) (OTCQB: VLCJF) (“Velocity” or the “Company”), a mineral exploration and development company, is pleased to announce that it has entered into a definitive share purchase and option agreement (the “Definitive Agreement”) with Türker Global Madencilik Sanayi Ve Ticaret A.Ş. (“Türker Global”) on February 24, 2025.
Terms of the Agreement
Under the terms of the Definitive Agreement, Türker Global will acquire all of the issued and outstanding common shares of Velocity, except for 1,000,000 common shares that will be held by Velocity’s President and CEO, Mr. Stephen Barley, and certain other directors and officers of the Company. The total consideration payable by Türker Global to acquire all of the outstanding common shares of Velocity will be CAD $15,000,000, payable in cash.
Background on Türker Global
Türker Global is a privately-held Turkish mining and metallurgical company with a proven track record in the mining industry. The company has extensive experience in the exploration, development, and operation of gold and copper mines in Turkey. With this acquisition, Velocity will benefit from Türker Global’s expertise and resources in the mining sector.
Impact on Velocity
This acquisition is expected to provide Velocity with the financial resources and operational expertise necessary to advance its mineral exploration and development projects in an expedited manner. Velocity’s shareholders will also benefit from Türker Global’s proven track record in the mining industry and its strong financial position.
Impact on the World
The mining industry is a significant contributor to the global economy, providing raw materials essential for various industries, including construction, manufacturing, and technology. This acquisition is expected to contribute to the growth and development of the mining sector in British Columbia and Turkey. Additionally, Velocity’s projects have the potential to create new jobs and stimulate economic activity in the local communities where they are located.
Conclusion
Velocity Minerals Ltd.’s acquisition by Türker Global is a significant development for the Company and the mining industry as a whole. Velocity will benefit from Türker Global’s financial resources and operational expertise, while Türker Global will gain access to Velocity’s mineral exploration and development projects. This acquisition is also expected to contribute to the growth and development of the mining sector in British Columbia and Turkey, creating new jobs and stimulating economic activity in the local communities where Velocity’s projects are located.
- Velocity Minerals Ltd. enters into a definitive share purchase and option agreement with Türker Global Madencilik Sanayi Ve Ticaret A.Ş.
- Türker Global to acquire all of the outstanding common shares of Velocity, except for 1,000,000 shares held by certain insiders.
- Consideration payable by Türker Global is CAD $15,000,000 in cash.
- Türker Global is a Turkish mining and metallurgical company with a proven track record in the mining industry.
- Acquisition expected to provide Velocity with financial resources and operational expertise to advance projects.
- Contribution to the growth and development of the mining sector in British Columbia and Turkey.
