Business
Abcourt Announces Non-Binding Letter of Intent to Acquire Pershimex
(TheNewswire) Rouyn-Noranda, Canada – TheNewswire - June 9, 20...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Announces Non-Binding Letter of Intent to Acquire Pershimex\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Rouyn-Noranda, Canada –\n \n \n TheNewswire -\n \n \n June 9, 2022 –\n \n \n Abcourt Mines Inc.\n \n \n (“Abcourt” or the “Corporation”)\n(TSX\n \n \n V:\n \n \n ABI)\n \n \n is pleased to\nannounce that it has entered into a non-binding letter of intent dated\nJune 9, 2022 (the “LOI”) with Pershimex Resources Corporation\n(“Pershimex”) (TSX Venture: PRO) in respect of a proposed\ntransaction, whereby the Corporation would acquire all of the issued\nand outstanding securities of Pershimex by way of a three-cornered\namalgamation (the “Transaction”). The proposed Transaction will\ncreate value for shareholders of both companies and is part of\nAbcourt’s vision to create a larger and more diversified emerging\ngold producer and explorer in Québec. The Proposed Transaction\nprovides a compelling investment opportunity for existing and\npotential new investors that we believe will result in significant\nshare price appreciation for shareholders of both companies.\n \n \n \n \n Transaction Highlights\n \n \n \n \n Highlights of the combined company includes:\n \n \n \n \n \n \n ~510 km\n \n \n of strategic landholdings\nacross major gold districts in central Québec;\n \n \n \n \n \n \n We estimate that post-transaction, Abcourt will have\nthe 3\n \n \n rd\n \n \n largest aggregate landholdings amongst gold\nexplorers/developers in the regions surrounding Rouyn-Noranda, Amos,\nVal-d'Or and Lebel-sur-Quevillon\n \n \n \n \n \n \n \n \n A large and diversified project portfolio in Québec,\nwhich includes:\n \n \n \n \n \n \n 2 underground gold mines that are currently on\ncare-and-maintenance and awaiting restart (Sleeping Giant and Elder\ngold mines),\n \n \n \n \n \n \n an operating 750 tpd mill at the Sleeping Giant mine\nsite,\n \n \n \n \n \n \n 14 early-to-advanced stage gold exploration projects\nhosting many known deposits,\n \n \n \n \n \n \n a feasibility stage zinc-silver project\n(Abcourt-Barvue) and a nearby satellite deposit (Vendome);\n \n \n \n \n \n \n \n \n Potential for substantial synergies from (i) mining and\nprocessing the 5,000-tonne bulk sample at the historical\nPershing-Manitou mine; (ii) con...