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Carlyle Commodities and Miramis Mining Enter into Amalgamation Agreement, Carlyle Announces Quesnel Option Agreement and Proposed Sale of Newton Project
Vancouver, British Columbia--(Newsfile Corp. - September 27, 2024) - Carlyle Commodities Corp. (CSE: CCC) (FSE: BJ4) (OTC Pink: CCCFF) ("Carlyle") and Miramis M
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - September 27, 2024) - Carlyle Commodities Corp. (CSE: CCC) (FSE: BJ4) (OTC Pink: CCCFF) (\"Carlyle\") and Miramis Mining Corp. (\"Miramis\") are pleased to announce that they have entered into an amalgamation agreement dated September 27, 2024 (the \"Amalgamation Agreement\") pursuant to which a wholly-owned subsidiary of Carlyle will amalgamate with Miramis and all of the issued and outstanding common shares of Miramis (\"Miramis Shares\") following the amalgamation will be immediately exchanged for common shares of Carlyle (\"Carlyle Shares\") on a one-to-one basis (the \"Transaction\"). Upon completion of the Transaction, the Board of Directors and management of Carlyle will remain the same and it is expected that shareholders of Miramis will hold approximately 28.8% of the issued and outstanding Carlyle Shares. Morgan Good, Chief Executive Officer of Carlyle and Miramis commented: \"The Company is pleased to enter into these various agreements which diversify the current project portfolio by way of the Miramis Amalgamation, and acquisition of rights and title to both the Nicola East Project, as well as the Quesnel Gold Project via the Option Agreement. The proposed sale of Newton will provide $500,000 in hard dollars to the Company, along with equity in Axcap common stock, plus some warrant coverage. Carlyle is optimistic the Axcap team and their corporate and technical expertise presents a strong opportunity to further enhance the value of Carlyle common stock through its holdings of Axcap, as well as provide another pathway to further capitalize the Company.\" Anticipated Benefits of the Transaction Consolidation of the two companies will create a well-capitalized mineral exploration company and will reduce operating and overhead costs; The combined entity is expected to increase shareholder liquidity, trading and capital markets exposure; and The Transaction is expected to provide a diversified asset portfolio in British Columbia, more shareholder distribution by way of the addition of 100 plus new shareholders via Miramis, as well as cash from the Miramis treasury, on closing. Anticipated Benefits for Miramis Shareholders Opportunity for Miramis shareholders to hold shares of a larger, more diversified company with a history of stronger access to markets and capital to furt...