Business
Conquest Provides Update on Acquisition and Consolidation
CCEC Shareholders Approve Transaction Toronto, Ontario--(Newsfile Corp. - September 24, 2020)...
About this update from Conquest Resources Limited
[{"type":"text","content":"Conquest Provides Update on Acquisition and ConsolidationCCEC Shareholders Approve TransactionToronto, Ontario--(Newsfile Corp. - September 24, 2020) - Conquest Resources Limited (TSXV: CQR) (the \"Company\" or \"Conquest\"), reports that the shareholders of Canadian Continental Exploration Corp. (\"CCEC\") have unanimously approved the previously announced transaction whereby CCEC will amalgamate with a subsidiary of Conquest and CCEC will become a wholly-owned subsidiary of Conquest (the \"Acquisition\"). Acquisition Approved by CCEC Shareholders At a Special Meeting of Shareholders of Canadian Continental Exploration Corp. held on September 23, 2020, shareholders of CCEC unanimously approved the acquisition of CCEC by Conquest under which Conquest will issue 40,306,667 post consolidated shares to the shareholders of CCECOn August 31, 2020, shareholders of Conquest approved the consolidation of all the issued and outstanding common shares of Conquest at a consolidation ratio of one (1) new post-consolidation share for every two and one half (2.5) pre-consolidation shares (the \"Consolidation\")Closing of the Acquisition and related Consolidation is subject to the final approval by the TSX Venture Exchange.About Conquest ResourcesConquest Resources Limited incorporated in 1945 is a mineral exploration company that is engaged in the exploration of gold properties in Ontario. Conquest owns 100% interest in the Golden Rose Project at Emerald Lake, in the Temagami mining camp, located approximately 65 kilometers northeast of Sudbury, Ontario, underlain by highly prospective Abitibi Greenstone geology along a strike length of 17 kilometers. The former Golden Rose Mine is located deep within the regionally large, unexplained Emerald Lake (Temagami) Anomaly which closely resembles the magnetic signature of the adjacent Sudbury Basin.In July 2020, Conquest entered into an agreement with Canadian Continental Exploration Corp. to acquire an extensive package of mining claims which surrounds Conquests' Golden Rose Mine Project at Emerald Lake in the Temagami mining camp northeast of Sudbury, Ontario. The package consists of almost 10,000 hectares of mining lands highly prospective for precious and base metals and under explored. When combined with the Company's current land holdings including the past producing Golden Rose Mine, Conquest ...