MONTRÉAL, May 27, 2026 (GLOBE NEWSWIRE) -- Morocco Strategic Minerals Corporation (TSXV: MCC), hereafter referred to as ‘the Corporation’, has announced the execution of a significant agreement with Visible Gold Mines Inc. (TSXV: VGD) on May 26, 2026. This agreement will enable Visible Gold to acquire a complete 100% interest in the Sakami Property, located in the highly prospective James Bay region of Québec. This transaction represents a strategic move for Morocco Strategic Minerals, allowing the company to streamline its portfolio and concentrate its capital and management resources on its exploration initiatives in Morocco, while entrusting the advancement of the Sakami Property to a dedicated exploration company focused on Québec.
According to the terms of the agreement, Visible Gold will issue 4,000,000 common shares to Morocco Strategic Minerals, which will account for approximately 9.7% of Visible Gold’s total issued and outstanding shares on a pro forma non-diluted basis, and about 8.3% on a fully diluted basis after the transaction closes. Additionally, Morocco Strategic Minerals will benefit from a 1% Net Smelter Return (NSR) royalty on the Sakami Property, which can be repurchased by Visible Gold for a sum of $1 million. It is important to note that these shares will be subject to a voluntary resale restriction lasting three years; specifically, 400,000 shares will be released four months after closing, with 1.2 million shares released on each of the first three anniversaries of the closing date.
The successful completion of this transaction is contingent upon standard closing conditions, including the necessary approvals from the TSX Venture Exchange. Eskar Capital Corporation has acted as a finder in this transaction and will receive a finder’s fee equivalent to 4% of the transaction value, in accordance with TSX Venture Exchange policies.
Pierre-Olivier Goulet, the Vice President of Corporate Development at Morocco Strategic Minerals, expressed optimism regarding the agreement: “Despite the exploration potential we recognize at the Sakami Property, our strategic focus remains on Morocco. This partnership with a company like Visible Gold, which is committed to advancing exploration in Québec, is advantageous. We believe that this transaction will unlock the project's value while allowing us to maintain a stake through equity ownership and an NSR royalty. It also provides us the opportunity to concentrate our financial and operational resources on our expanding Moroccan portfolio.” He further added, “We are excited to maintain long-term exposure to the Sakami Property while dedicating our resources to exploration efforts in Morocco, where we see considerable opportunities for significant discoveries and strategic collaborations.”
The Sakami Property itself encompasses 475 claims and covers roughly 250 square kilometers, strategically situated along the contact zone between the Opinaca and La Grande subprovinces within the James Bay region of Québec. Previous exploration activities on the property have included geophysical surveys, trenching, channel sampling, and limited drilling campaigns.
Visible Gold Mines (TSXV: VGD) is recognized as a mining exploration company that actively seeks to acquire, explore, and develop gold projects within the prolific Abitibi Gold Belt and the James Bay area of Québec. Meanwhile, Morocco Strategic Minerals Corporation is a Canadian mineral exploration entity focusing on the acquisition, exploration, and potential development of valuable natural resource properties both in Canada and Morocco.
As reported by au.finance.yahoo.com.
