Business
Bullion Gold Announces Proposed RTO Transaction with Vertical Designs Ltd.
(via TheNewswire) VANCOUVER, B.C. / TheNewswire / March 6, 2018 - Bullion Gold Resources...
About this update from Bullion Gold Resources Corp.
[{"type":"text","content":"Bullion Gold Announces Proposed RTO Transaction with Vertical Designs Ltd.(via TheNewswire)\n\n \nVANCOUVER, B.C. / TheNewswire / March 6, 2018 - Bullion Gold Resources Corp. (TSX-V: BGD) (the \"Company\") is pleased to announce that it has entered into a letter of intent (the \"LOI\") effective March 6, 2018, which sets out the basic terms and conditions for the acquisition by the Company of all of the issued and outstanding common shares in the capital of Vertical Designs Ltd. (\"Vertical\") and its wholly owned subsidiaries Vertical Designs Alberta Ltd. (\"Vertical Alberta\") and Vertical Designs Aruba Inc. (\"Vertical Aruba\" and, together with Vertical and Vertical Alberta, \"Vertical Group\") in exchange for common shares in the capital of the Company (the \"Acquisition\"). The Acquisition is expected to be structured as a reverse takeover (\"RTO\") under the rules and policies of the TSX Venture Exchange (the \"Exchange\"). Upon successful completion of the RTO, the Company will cease operations as a mineral exploration company and will begin operating in the agriculture industry, as further detailed below.\n\n\n \nVertical Designs Ltd.\n\n\n \nVertical is an arm's-length British Columbia-based private company that holds a license to use certain proprietary farming technology. Vertical is the sole shareholder of Vertical Aruba. \n\n\n \nVertical Designs Alberta Ltd.\n\n\n \nVertical Alberta is an arm's length Alberta-based private company and the wholly owned subsidiary of Vertical. Vertical Alberta has a license to build a mass food growing facility in Alberta.\n\n\n \nVertical Designs Aruba Inc.\n\n\n \nVertical Aruba is an arms-length Aruba-based private company and the wholly owned subsidiary of Vertical. Vertical Aruba holds land interests in Aruba and expects to receive a license to produce and sell food in Aruba and other countries in the Carribean. \n\n\n \nBullion Gold Resources Corp.\n\n\n \n\nThe Company exists under the laws of British Columbia, is a reporting issuer in British Columbia and Alberta and its shares are listed on the Exchange. The Company was previously involved in the identification, exploration and development of viable mineral properties in British Columbia but has since elected to undergo a change of business due to current market conditions. If the Acquisition is completed, the resulting iss...