Rincon Resources Pty Ltd ( Rincon ) The Company advised in late June 2020 that it had invested AUD$250,000 (approximately £140, 000) in Rincon, an Australian gold and base metals exploration company. At the time the Company s investment represented approximately 28% of Rincon s issued share capital. Rincon is a Western Australian ( WA ) focused gold and base metals company which holds a 100% interest in three highly prospective projects in WA; the South Telfer, Laverton and Kiwirrkurra Projects. Each project has been subject to historical exploration which has identified large outcropping mineralised systems. Rincon intends to explore the projects in order to delineate copper and gold resources. It intends to drill these three projects during the first half of 2021.The main focus is on the South Telfer Project, covering 50,000 hectares in the Paterson province. The South Telfer Project is approximately 12km south of Newcrest
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Montreal, Quebec (Newsfile Corp. - February 19, 2021) -
Algold Resources Ltd. (TSXV: ALG) ( Algold ) announced today that, in the context of its Proposal, it has entered into a binding agreement (the Investment Agreement ) with Aya Gold & Silver Inc. (TSX: AYA) ( Aya ) whereby Aya will fund its Proposal and at closing, become sole shareholder of Algold (the Transaction ).
Under the terms of the Investment Agreement, existing Algold shares will be cancelled and Aya will subscribe for 100% of the newly issued and outstanding shares of Algold. Closing of the Transaction is subject to a number of Conditions Precedent, including the approval of Algold s Proposal and authorisation and filing of a reorganization of Algold s share capital.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Aya Gold & Silver Signs Binding Agreement to Acquire Algold Resources
Aya Gold & Silver Inc.February 19, 2021 GMT
Mont-Royal, Feb. 19, 2021 (GLOBE NEWSWIRE) Montreal, Quebec, February 19, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is pleased to announce that, in the context of the Proposal made by Algold Resources Ltd. (“Algold”), it has entered into a binding term sheet (the “Investment Agreement”) with Algold pursuant to which Aya would fund Algold’s Proposal to its creditors (“the Proposal”) and at closing, would become the sole shareholder of Algold (the “Transaction”).