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Exploration|Gold
Exploration|Gold
exploration|gold

MegumaGold to acquire Canadian GoldCamps' assets

7th January 2021

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

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Canadian junior gold exploration company MegumaGold and Canadian GoldCamps have terminated a previously announced share exchange agreement signed in November and have entered into a new definitive agreement whereby MegumaGold will buy substantially all of the assets of Canadian GoldCamps.

Under the terms of the new agreement, Canadian GoldCamps will sell to MegumaGold all of its Canadian assets and the associated working capital in exchange for securities of MegumaGold, which it intends to distribute directly to its shareholders, subject to a shareholder vote and other regulatory approvals.

As the proposed transaction constitutes the disposition of substantially all of Canadian GoldCamps’ undertaking, Canadian GoldCamps will hold an annual general and special meeting of its shareholders on January 29 to seek shareholder approval for the transactions contemplated in the agreement.

It is anticipated that the sale price for Canadian GoldCamps’ assets will be comprised of 1.1 shares of MegumaGold for each one issued and outstanding share of Canadian GoldCamp as at November 16, 2020.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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