NexOptic Technology Corp and Selten Metal Corp. Enter into Extension – QNT Press Release


VANCOUVER, British Columbia, Feb. 18, 2022 (GLOBE NEWSWIRE) — NexOptic Technology Corp. (“NexOptic”) (TSXV:NXO) (OTCQB:NXOPF) (FSE: E3O1) announces that it has granted Selten Metal Corp an extension to their original agreement as announced via a joint news release on December 16, 2021. The purpose of the extension is to allow Selten additional time to finalize its structuring plans prior to listing in Canada. The agreement grants to Selten an option to earn up to a 100% interest in NexOptic’s wholly owned, THOR Heavy & Light Rare Earth Element Project (“THOR”).

As previously announced, in order for Selten to acquire an initial 75% interest in and to the THOR project, Selten must: (a) make a cash payment of $1,100,000 to NexOptic, which pursuant to the amendment must now be made 90 business days following execution of the option agreement (b) upon the date of any listing of Selten, or its successor, on a recognized stock exchange in Canada (the “Listing Date”), issue to NexOptic such number of common shares in its capital as will represent 9.5% of the issued and outstanding Selten shares post…

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