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Avidian Gold Provides Review of 2017 Corporate and Exploration Activity
TORONTO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Avidian Gold Corp. (TSXV:AVG) (the “Corporation” or “Avidian”) is pleased to report that it became a public reporting
About this update from Avidian Gold Corp.
[{"type":"text","content":"TORONTO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Avidian Gold Corp. (TSXV:AVG) (the “Corporation” or “Avidian”) is pleased to report that it became a public reporting issuer on December 4, 2017. Avidian was founded in 2011 as a private company with the strategic goal of acquiring gold properties that had the potential for significant advancement and discovery success within well endowed, mine friendly jurisdictions in North America. Presently the Corporation holds a 100% interest in a portfolio comprised of four advanced gold properties in the USA: the Golden Zone and Amanita properties in south–central Alaska, and the Jungo and Dome Hill properties in Nevada. Avidian started the year with a two-fold objective of 1): becoming a public reporting issuer; and 2) commencing its first season of exploration work on its flagship Golden Zone gold project. In order to achieve our first objective, Avidian: entered into an amalgamation agreement in late 2016 with a capital pool company called Marching Moose Capital Corp (“MMCC”); and privately raised just over $3.5 million Canadian to be used as part of the requirement to go public and advance our 2017 exploration work while the amalgamation was completed. On December 1, 2017, the amalgamation was completed and approved by the TSX Venture Exchange. As a result of the Amalgamation Avidian shareholders received one MMCC common share for every 2.17 Avidian Shares previously held. MMCC then changed its name to Avidian Gold Corp. Avidian now has a total of 49,358,058 common shares outstanding. Avidian commenced trading on the TSX Venture Exchange on December 4, 2017 as a Tier 2 mining issuer under the symbol AVG. The Properties Avidian holds properties in Nevada and Alaska, two major gold producing areas. To date the exploration focus has been primarily on the more advanced Golden Zone property in Alaska at the expense of properties held in Nevada. Recognizing that the valuation assigned to Avidian is predominantly based on the Golden Zone property, the Corporation plans to conduct a strategic review on how best to maximize value from the Nevada properties. Alaska Properties The Golden Zone and Amanita properties lie within the prolific Tintina Gold Belt that hosts multi-million ounce gold deposits such as Donlin Creek (+39 Moz measured plus indicated g...