Nordique receives exchange approval for Kwyjibo rare earth deal

Nordique Critical Metals Inc. has received final approval from the TSX Venture Exchange for its acquisition of an option to earn up to 80% interest in the Kwyjibo Rare Earth Project in Quebec’s Côte-Nord region. The transaction, which involves a definitive agreement with SOQUEM Inc., requires Nordique to make payments totaling C$23.15 million over five years to acquire a 60% interest.

Phase II of the agreement allows Nordique to acquire an additional 20% interest over three years following Phase I completion. The Kwyjibo Project hosts rare earth elements such as neodymium, praseodymium, dysprosium, terbium, and yttrium and is located 125 kilometers northeast of Sept-Îles. The project remains subject to a 1.5% net smelter return royalty to Iron Ore Company of Canada.

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