Business
Conquest Provides Update on Golden Rose Property and Clarifies Details of Private Placement
Conquest Provides Update on Golden Rose Property and Clarifies Details of Private Placemen...
About this update from Conquest Resources Limited
[{"type":"text","content":"\n\n\n\nConquest Provides Update on Golden Rose Property and Clarifies Details of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 7, 2017\n\n\n\nTORONTO, Dec. 7, 2017 /CNW/ - Conquest Resources Limited (TSV-V: \"CQR\") (\"Conquest\" or \"the Company\") announces that it has received approval from the shareholders of Northern Nickel Mining Inc. (\"Northern Nickel\") to acquire 100% of the shares of Northern Nickel and thereby acquire the Golden Rose Property which encompasses the former Golden Rose gold mine and related patented and staked mining claims located 65 kilometres northeast of Sudbury, Ontario.\n\n\n \n \n\n \nACQUISITION UPDATE\n\nOn November 27, 2017, Conquest announced that it has entered into an Agreement with Northern Nickel and its majority shareholders to acquire 100% of Northern Nickel in consideration of the issuance of a total of 10,000,000 shares of Conquest to the shareholders of Northern Nickel.  Through the issuance of these shares, which represents approximately 10% of the Conquest shares outstanding, the Company will have acquired the Golden Rose Property (the \"Property\").  An advisory fee in connection with the transaction will be paid to Added Capital Inc. through the issuance of 600,000 shares of Conquest.\n\n\"The Company is very pleased to announce that all shareholders of Northern Nickel have voted in favour of the transaction and agreed to transfer 100% of the shares of Northern Nickel to Conquest in exchange for Conquest shares.  This support allows Conquest to complete the transaction and forge ahead with exploration plans for this gold project representing an exciting new opportunity for Conquest shareholders\" commented Benjamin Batson, P. Geo, P. Eng., President and Chief Executive of Conquest.  The formal closing of this acquisition is expected to occur by the end of the week.\n\nConquest's exploration strategy for the Golden Rose Property incorporates targets in Algoman-type banded iron formation and Archean-aged greenstone volcanics in search of orogenic gold...