Wolfden Resources Completes $2.1 Million Sale of Timberland Parcel

Wolfden Resources Corp. has finalized the sale of a 3,770-acre timberland parcel in Maine. The transaction yields gross proceeds of $2.1 million. The sold land is separate from the company's retained 3,082 acres, which contain a significant polymetallic mineral deposit.

The sale agreement includes Wolfden's rights to repurchase the mineral rights for the next five years. Altius Royalty Corporation, which previously acquired increased timber rights, amended its agreement, forfeiting certain rights but holding conversion options for shares in Wolfden.

This transaction, conducted in cash, maintains a neutral impact on corporate shareholding. However, certain aspects are deemed related-party transactions due to Altius's shareholding in Wolfden. Regulatory exemptions have been applied