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Karus Gold Provides Update on Proposed Transaction with Kenadyr Metals
Vancouver, British Columbia--(Newsfile Corp. - April 4, 2023) - Karus Gold Corp. ("Karus" or the "Company"), a gold exploration company focused on the South Car
About this update from Algo Grande Copper Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - April 4, 2023) - Karus Gold Corp. (\"Karus\" or the \"Company\"), a gold exploration company focused on the South Cariboo Gold District in British Columbia, provides an update on the proposed transaction with Kenadyr Metals Corp. (TSXV: KEN) (OTC Pink: KNDYF) (\"Kenadyr\") as previously announced on December 30, 2022 (the \"Proposed Transaction\"). Karus and Kenadyr continue to work to complete the Proposed Transaction and the definitive binding agreement between Karus and Kenadyr (the \"Agreement\") remains in force. Pursuant to the Agreement, Kenadyr will acquire 100% of the issued and outstanding common shares of Karus (the \"Karus Common Shares\") via a Kenadyr issuance of common shares resulting in a reverse takeover by Karus (the \"Proposed Transaction\"). The resulting issuer will be Kenadyr Metals Corp., a Tier 2 TSX Venture Exchange (the \"TSX-V\") listed company. The Agreement includes customary termination rights for both Kenadyr and Karus in the event that the Proposed Transaction is not completed by March 31, 2023. Notwithstanding that such date has passed, the Agreement remains in force and the parties are continuing to work together to complete the Proposed Transaction. The Proposed Transaction is also subject to customary closing conditions, including the approvals of Karus' shareholders, the court, and the TSX-V. For more details on the Proposed Transaction, see the previous announcement on December 30, 2022. There is no assurance that the Proposed Transaction will be completed as proposed or at all. None of the securities to be issued pursuant to the Proposed Transaction have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and any securities issued pursuant to the Proposed Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. About Karus Gold Karus Gold is the 100% owner of the 1,000 km2 South Caribou Gold District that includes the drill-stage FG Gold and Gold Creek projects in British Columbia. Further information on Karus Gold and its assets can be found on the Company's website at www.karusgold.com and at www.sedar.com, or...