{"success":true,"data":{"pressRelease":{"id":"172644","rtpr_id":"nNFC9jx7L-20261019","ticker":"VLC","exchange":"","all_tickers":["VLC"],"title":"Velocity Provides Update on Sale of Bulgarian Assets","author":"Newsfile Corp","published_at":"2026-10-19T12:30:16.670Z","article_body":"Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - Velocity\nMinerals Ltd. (TSXV: VLC) (OTCQB: VLCJF) (\"Velocity\" or the \"Company\")\nprovides an update on its previously announced transaction with Türker Global\nMadencilik Sanayi ve Ticaret A.Ş. (\"Türker Mining\") pursuant to a share\npurchase and option agreement dated February 24, 2025 (the \"Definitive\nAgreement\") for the sale of the Company's interest in the Rozino gold project,\ntogether with certain other licences, licence applications and associated\ntenures and rights (collectively, the \"Tintyava Exploration Assets\"), and the\ngrant to Türker Mining of an option (the \"Non-Tintyava Exploration Assets\nPurchase Option\") to acquire the Company's interests in certain other\nBulgarian mineral property assets (the \"Non-Tintyava Exploration Assets\"). The\nsale of the Tintyava Exploration Assets and the grant of the Non-Tintyava\nExploration Assets Purchase Option are collectively referred to herein as the\n\"Transaction\".\n\nThe Company advises that it has received written notice from Türker Mining of\nits election to proceed to closing of the acquisition of the Tintyava\nExploration Assets in accordance with the terms of the Definitive Agreement.\nUnder the terms of the Definitive Agreement, closing of the sale and purchase\nof the Tintyava Exploration Assets (\"Closing\") is anticipated to occur on or\nabout December 14, 2026, subject to the satisfaction or waiver of the\napplicable conditions precedent to Closing and the funding requirements of the\nDefinitive Agreement.\n\nThe total purchase price for the Tintyava Exploration Assets is US$55.0\nmillion, of which US$16.5 million has previously been received by the Company.\nThe remaining US$38.5 million (the \"Completion Payment\") is to be paid to the\nescrow agent prior to Closing and released to the Company at Closing in\naccordance with the Definitive Agreement. Closing is to occur five business\ndays after Türker Mining provides written notice to the Company confirming\nthat the Completion Payment has been paid to and received by the escrow agent\n(the \"Funding Completion Notice\"), subject to the other terms and conditions\nof the Definitive Agreement. Of the US$55.0 million purchase price, US$38.5\nmillion (70%) will be received by Velocity at Closing.\n\nSeparately, Türker Mining may exercise the Non-Tintyava Exploration Assets\nPurchase Option for an additional US$4.0 million in accordance with the terms\nof the Definitive Agreement. Türker Mining's October 15, 2026 notice does not\nconstitute an exercise of the Non-Tintyava Exploration Assets Purchase Option,\nwhich remains exercisable in accordance with the terms of the Definitive\nAgreement. If exercised, the aggregate purchase price for the Tintyava\nExploration Assets and the Non-Tintyava Exploration Assets would be US$59.0\nmillion.\n\nFurther particulars concerning the Transaction and its terms are contained in\nthe Company's previous news releases dated October 1, November 29 and December\n17, 2024, February 28, April 16 and June 9, 2025, and November 4, 2025,\navailable under the Company's profile on SEDAR+ at www.sedarplus.ca.\n\nOn Behalf of the Board of Directors\n\n\"Keith Henderson\"\nPresident & CEO\n\nFor further information, please contact:\n\nKeith Henderson\nPhone: +1-604-484-1233\nE-mail: info@velocityminerals.com\nWeb: www.velocityminerals.com\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nThis news release contains forward-looking statements and forward-looking\ninformation (collectively, \"forward-looking statements\") within the meaning of\napplicable Canadian and U.S. securities legislation. All statements, other\nthan statements of historical fact, included herein, including, without\nlimitation, statements regarding the anticipated timing and completion of the\nTransaction, the payment and receipt of the Completion Payment, the\nsatisfaction or waiver of the conditions precedent to Closing, and the\npotential exercise by Türker Mining of the Non-Tintyava Exploration Assets\nPurchase Option, are forward-looking statements.\n\nAlthough Türker Mining has delivered notice of its election to proceed to\nClosing, Closing remains subject to the satisfaction or waiver of the\nconditions precedent set forth in the Definitive Agreement, including, as\napplicable, the accuracy of certain representations and warranties of the\nparties, compliance by the parties with their respective covenants and\nobligations, the receipt or continued effectiveness of required governmental\nand third-party approvals and the absence of any applicable legal prohibition\npreventing Closing. In addition, Closing is subject to Türker Mining\ndelivering the Completion Payment to the escrow agent and providing the\nrequired Funding Completion Notice in accordance with the Definitive\nAgreement. There can be no assurance that the conditions to Closing will be\nsatisfied or waived, that the Completion Payment will be made or received when\nanticipated, or that Closing will occur within the anticipated timeframe or at\nall. There can also be no assurance that Türker Mining will exercise the\nNon-Tintyava Exploration Assets Purchase Option.\n\nForward-looking statements are typically identified by words such as\n\"believes\", \"expects\", \"anticipates\", \"intends\", \"estimates\", \"plans\", \"may\",\n\"should\", \"would\", \"will\", \"potential\", \"scheduled\" or variations of such\nwords and phrases and similar expressions which, by their nature, refer to\nfuture events or results that may, could, would, might or will occur or be\ntaken or achieved.\n\nIn making the forward-looking statements in this news release, the Company has\nmade certain material assumptions, including that the parties will comply with\ntheir respective obligations under the Definitive Agreement, the conditions\nprecedent to Closing will be satisfied or waived within the anticipated\ntimeframe, all necessary governmental and third-party approvals will be\nobtained or remain effective, and Türker Mining will deliver the Completion\nPayment and Funding Completion Notice in accordance with the Definitive\nAgreement.\n\nForward-looking statements involve known and unknown risks, uncertainties and\nother factors that may cause actual results, performance or achievements to\ndiffer materially from those expressed or implied by such statements. These\ninclude, among others, the risk that the conditions precedent to Closing will\nnot be satisfied or waived, delays in obtaining or maintaining required\ngovernmental or third-party approvals, the failure of either party to perform\nits obligations under the Definitive Agreement, the failure of Türker Mining\nto fund the Completion Payment when required, delays in or failure to complete\nthe Transaction, changes in applicable laws, regulations or government\npolicies, and other risks associated with mineral exploration and development,\nas well as the risk factors described in the Company's annual and quarterly\nmanagement's discussion and analysis and other filings with Canadian\nsecurities regulatory authorities available under the Company's profile at\nwww.sedarplus.ca.\n\nReaders are cautioned not to place undue reliance on forward-looking\nstatements. The Company undertakes no obligation to update or revise any\nforward-looking statements contained in this news release, except as required\nby applicable law.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/319562","article_body_html":"","raw_payload":{"data":{"id":"nNFC9jx7L-20261019","title":"Velocity Provides Update on Sale of Bulgarian Assets","author":"Newsfile Corp","ticker":"VLC","created":"2026-10-19T12:30:16.670Z","tickers":["VLC"],"exchange":"","article_body":"Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - Velocity\nMinerals Ltd. (TSXV: VLC) (OTCQB: VLCJF) (\"Velocity\" or the \"Company\")\nprovides an update on its previously announced transaction with Türker Global\nMadencilik Sanayi ve Ticaret A.Ş. (\"Türker Mining\") pursuant to a share\npurchase and option agreement dated February 24, 2025 (the \"Definitive\nAgreement\") for the sale of the Company's interest in the Rozino gold project,\ntogether with certain other licences, licence applications and associated\ntenures and rights (collectively, the \"Tintyava Exploration Assets\"), and the\ngrant to Türker Mining of an option (the \"Non-Tintyava Exploration Assets\nPurchase Option\") to acquire the Company's interests in certain other\nBulgarian mineral property assets (the \"Non-Tintyava Exploration Assets\"). The\nsale of the Tintyava Exploration Assets and the grant of the Non-Tintyava\nExploration Assets Purchase Option are collectively referred to herein as the\n\"Transaction\".\n\nThe Company advises that it has received written notice from Türker Mining of\nits election to proceed to closing of the acquisition of the Tintyava\nExploration Assets in accordance with the terms of the Definitive Agreement.\nUnder the terms of the Definitive Agreement, closing of the sale and purchase\nof the Tintyava Exploration Assets (\"Closing\") is anticipated to occur on or\nabout December 14, 2026, subject to the satisfaction or waiver of the\napplicable conditions precedent to Closing and the funding requirements of the\nDefinitive Agreement.\n\nThe total purchase price for the Tintyava Exploration Assets is US$55.0\nmillion, of which US$16.5 million has previously been received by the Company.\nThe remaining US$38.5 million (the \"Completion Payment\") is to be paid to the\nescrow agent prior to Closing and released to the Company at Closing in\naccordance with the Definitive Agreement. Closing is to occur five business\ndays after Türker Mining provides written notice to the Company confirming\nthat the Completion Payment has been paid to and received by the escrow agent\n(the \"Funding Completion Notice\"), subject to the other terms and conditions\nof the Definitive Agreement. Of the US$55.0 million purchase price, US$38.5\nmillion (70%) will be received by Velocity at Closing.\n\nSeparately, Türker Mining may exercise the Non-Tintyava Exploration Assets\nPurchase Option for an additional US$4.0 million in accordance with the terms\nof the Definitive Agreement. Türker Mining's October 15, 2026 notice does not\nconstitute an exercise of the Non-Tintyava Exploration Assets Purchase Option,\nwhich remains exercisable in accordance with the terms of the Definitive\nAgreement. If exercised, the aggregate purchase price for the Tintyava\nExploration Assets and the Non-Tintyava Exploration Assets would be US$59.0\nmillion.\n\nFurther particulars concerning the Transaction and its terms are contained in\nthe Company's previous news releases dated October 1, November 29 and December\n17, 2024, February 28, April 16 and June 9, 2025, and November 4, 2025,\navailable under the Company's profile on SEDAR+ at www.sedarplus.ca.\n\nOn Behalf of the Board of Directors\n\n\"Keith Henderson\"\nPresident & CEO\n\nFor further information, please contact:\n\nKeith Henderson\nPhone: +1-604-484-1233\nE-mail: info@velocityminerals.com\nWeb: www.velocityminerals.com\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nThis news release contains forward-looking statements and forward-looking\ninformation (collectively, \"forward-looking statements\") within the meaning of\napplicable Canadian and U.S. securities legislation. All statements, other\nthan statements of historical fact, included herein, including, without\nlimitation, statements regarding the anticipated timing and completion of the\nTransaction, the payment and receipt of the Completion Payment, the\nsatisfaction or waiver of the conditions precedent to Closing, and the\npotential exercise by Türker Mining of the Non-Tintyava Exploration Assets\nPurchase Option, are forward-looking statements.\n\nAlthough Türker Mining has delivered notice of its election to proceed to\nClosing, Closing remains subject to the satisfaction or waiver of the\nconditions precedent set forth in the Definitive Agreement, including, as\napplicable, the accuracy of certain representations and warranties of the\nparties, compliance by the parties with their respective covenants and\nobligations, the receipt or continued effectiveness of required governmental\nand third-party approvals and the absence of any applicable legal prohibition\npreventing Closing. In addition, Closing is subject to Türker Mining\ndelivering the Completion Payment to the escrow agent and providing the\nrequired Funding Completion Notice in accordance with the Definitive\nAgreement. There can be no assurance that the conditions to Closing will be\nsatisfied or waived, that the Completion Payment will be made or received when\nanticipated, or that Closing will occur within the anticipated timeframe or at\nall. There can also be no assurance that Türker Mining will exercise the\nNon-Tintyava Exploration Assets Purchase Option.\n\nForward-looking statements are typically identified by words such as\n\"believes\", \"expects\", \"anticipates\", \"intends\", \"estimates\", \"plans\", \"may\",\n\"should\", \"would\", \"will\", \"potential\", \"scheduled\" or variations of such\nwords and phrases and similar expressions which, by their nature, refer to\nfuture events or results that may, could, would, might or will occur or be\ntaken or achieved.\n\nIn making the forward-looking statements in this news release, the Company has\nmade certain material assumptions, including that the parties will comply with\ntheir respective obligations under the Definitive Agreement, the conditions\nprecedent to Closing will be satisfied or waived within the anticipated\ntimeframe, all necessary governmental and third-party approvals will be\nobtained or remain effective, and Türker Mining will deliver the Completion\nPayment and Funding Completion Notice in accordance with the Definitive\nAgreement.\n\nForward-looking statements involve known and unknown risks, uncertainties and\nother factors that may cause actual results, performance or achievements to\ndiffer materially from those expressed or implied by such statements. These\ninclude, among others, the risk that the conditions precedent to Closing will\nnot be satisfied or waived, delays in obtaining or maintaining required\ngovernmental or third-party approvals, the failure of either party to perform\nits obligations under the Definitive Agreement, the failure of Türker Mining\nto fund the Completion Payment when required, delays in or failure to complete\nthe Transaction, changes in applicable laws, regulations or government\npolicies, and other risks associated with mineral exploration and development,\nas well as the risk factors described in the Company's annual and quarterly\nmanagement's discussion and analysis and other filings with Canadian\nsecurities regulatory authorities available under the Company's profile at\nwww.sedarplus.ca.\n\nReaders are cautioned not to place undue reliance on forward-looking\nstatements. The Company undertakes no obligation to update or revise any\nforward-looking statements contained in this news release, except as required\nby applicable law.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/319562"},"type":"article","timestamp":"2026-10-19T12:30:16.732272179Z","server_sent_at_ms":1792413016732},"received_at":"2026-10-19T12:30:16.783Z","source_url":"https://www.newsfilecorp.com/release/319562"},"analysis":{"id":"160764","press_release_id":"172644","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Closing still subject to conditions precedent and Türker delivering the US$38.5M Completion Payment","No assurance the Non-Tintyava option will be exercised"],"eventType":"m_and_a","narrative":"Velocity Minerals has received written notice from Türker Mining electing to proceed to closing of the sale of the Tintyava Exploration Assets, including the Rozino gold project, under the February 24, 2025 Definitive Agreement.\n\nTotal consideration is US$55.0 million, of which US$16.5 million has already been received; the remaining US$38.5 million (70%) is due into escrow ahead of a closing anticipated on or about December 14, 2026.\n\nTürker separately holds an option to buy the Non-Tintyava assets for an additional US$4.0 million, which would lift the aggregate price to US$59.0 million, but the October 15 notice did not exercise that option.\n\nClosing remains conditional on conditions precedent and Türker's funding of the Completion Payment, so the transaction is de-risked but not yet guaranteed.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Buyer formally commits to closing the US$55M Rozino/Tintyava sale -- 70% of consideration still to land in December."},"keyFigures":{"dealValueUsd":55000000,"customDimensions":{"anticipated_closing":"on or about December 14, 2026","completion_payment_pct":"70%","completion_payment_usd":38500000,"amount_received_to_date_usd":16500000,"aggregate_if_option_exercised_usd":59000000,"optional_non_tintyava_payment_usd":4000000}},"namedEntities":{"people":[{"name":"Keith Henderson","role":"President & CEO"}],"products":["Rozino gold project","Tintyava Exploration Assets","Non-Tintyava Exploration Assets"],"companies":[{"name":"Velocity Minerals Ltd.","ticker":"VLC","relationship":"filer/seller"},{"name":"Türker Global Madencilik Sanayi ve Ticaret A.Ş. (Türker Mining)","relationship":"buyer"}],"dollarAmounts":[{"amount":"US$55.0 million","context":"total purchase price for Tintyava Exploration Assets"},{"amount":"US$16.5 million","context":"previously received by the Company"},{"amount":"US$38.5 million","context":"Completion Payment to escrow agent prior to Closing"},{"amount":"US$4.0 million","context":"Non-Tintyava Exploration Assets Purchase Option price"},{"amount":"US$59.0 million","context":"aggregate purchase price if option is exercised"}]},"materialImpact":{"score":3,"reasoning":"Buyer has formally elected to proceed to closing of the previously announced US$55.0M asset sale, with US$38.5M (70%) still to be received at Closing anticipated around December 14, 2026. Material de-risking for a small-cap explorer, though Closing remains conditional on funding and conditions precedent."},"tickerRelevance":{"others":[],"primary":"VLC"},"globalImportance":22,"audienceRelevance":12,"eventTypeSecondary":[],"importanceComponents":{"dealSize":"US$55M vs micro-cap filer","certainty":"conditional, not closed","tickerTier":"small-cap TSXV explorer","eventGravity":"buyer election to close previously announced asset sale"}},"event_type":"m_and_a","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Velocity Minerals has received written notice from Türker Mining electing to proceed to closing of the sale of the Tintyava Exploration Assets, including the Rozino gold project, under the February 24, 2025 Definitive Agreement.\n\nTotal consideration is US$55.0 million, of which US$16.5 million has already been received; the remaining US$38.5 million (70%) is due into escrow ahead of a closing anticipated on or about December 14, 2026.\n\nTürker separately holds an option to buy the Non-Tintyava assets for an additional US$4.0 million, which would lift the aggregate price to US$59.0 million, but the October 15 notice did not exercise that option.\n\nClosing remains conditional on conditions precedent and Türker's funding of the Completion Payment, so the transaction is de-risked but not yet guaranteed.","key_figures":{"dealValueUsd":55000000,"customDimensions":{"anticipated_closing":"on or about December 14, 2026","completion_payment_pct":"70%","completion_payment_usd":38500000,"amount_received_to_date_usd":16500000,"aggregate_if_option_exercised_usd":59000000,"optional_non_tintyava_payment_usd":4000000}},"named_entities":{"people":[{"name":"Keith Henderson","role":"President & CEO"}],"products":["Rozino gold project","Tintyava Exploration Assets","Non-Tintyava Exploration Assets"],"companies":[{"name":"Velocity Minerals Ltd.","ticker":"VLC","relationship":"filer/seller"},{"name":"Türker Global Madencilik Sanayi ve Ticaret A.Ş. (Türker Mining)","relationship":"buyer"}],"dollarAmounts":[{"amount":"US$55.0 million","context":"total purchase price for Tintyava Exploration Assets"},{"amount":"US$16.5 million","context":"previously received by the Company"},{"amount":"US$38.5 million","context":"Completion Payment to escrow agent prior to Closing"},{"amount":"US$4.0 million","context":"Non-Tintyava Exploration Assets Purchase Option price"},{"amount":"US$59.0 million","context":"aggregate purchase price if option is exercised"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-19T12:30:23.056Z","global_importance":22,"audience_relevance":12,"importance_components":{"dealSize":"US$55M vs micro-cap filer","certainty":"conditional, not closed","tickerTier":"small-cap TSXV explorer","eventGravity":"buyer election to close previously announced asset sale"}},"durationMs":6247,"modelName":"glm-5.3-flashx"}}