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Croesus Gold Corp. and Ring the Bell Capital Corp. Announce Letter of Intent for a Proposed Qualifying Transaction to form Arizona Metals Corp.
Toronto, Ontario--(Newsfile Corp. - April 4, 2019) - Croesus Gold Corp. (" Croesus ") and ...
About this update from Arizona Metals Corp
[{"type":"text","content":"Croesus Gold Corp. and Ring the Bell Capital Corp. Announce Letter of Intent for a Proposed Qualifying Transaction to form Arizona Metals Corp. Toronto, Ontario--(Newsfile Corp. - April 4, 2019) - Croesus Gold Corp. (\"Croesus\") and Ring the Bell Capital Corp. (TSXV: RTB.P) (\"RTB\" or the \"Company\")  are pleased to announce the entering into of a binding Letter of Intent (the \"LOI\"), which sets forth the general terms and conditions pursuant to which Croesus and RTB have agreed to complete a transaction (the \"Transaction\") that will result in a reverse take-over of RTB by the shareholders of Croesus. It is intended that the Transaction will constitute the \"Qualifying Transaction\" of RTB as such term is defined in Policy 2.4 of the Corporate Finance Manual (the \"Policy\") of the TSX Venture Exchange (the \"TSXV\").Marc Pais, President and CEO, Croesus Gold Corp: \"We are very excited to introduce the high-grade Kay Mine VMS deposit to the market after a long period of dormancy. The patented claims have been privately held for 35 years, and no exploration work has been performed since 1984. In 1982, Exxon Minerals (a subsidiary of ExxonMobil) estimated a historic resource of significant tonnage and grade. Only one quarter of the mineralized strike length traced at surface has been tested, and the deposit was not drilled below a depth of 900m. Importantly, none of the 351 acres of claims recently acquired are subject to any royalties. Last month Croesus also staked an additional 1,000 acres of adjacent claims, and completed a helicopter VTEM survey. Preliminary results of the survey have already highlighted a significant new target that is untested by drilling. We look forward to initiating a preliminary drill program in order expand and bring the historic resource into NI 43-101 compliance, while also testing new targets. The technical information contained in this news release was reviewed and approved by David S. Smith, CPG, who is a Qualified Person (\"QP\") under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.Croesus Gold Corp. Croesus is a private mineral exploration company based in Toronto, Ontario. Croesus recently completed the acquisition of 100% ownership of approximately 351 acres of patented and unpatented claims covering and surrounding the past-producing Kay mine (\"Kay Min...