Business
Eagle Plains Provides Corporate Update, Future Outlook
CRANBROOK, BC / ACCESSWIRE / March 14, 2023 / Management of Eagle Plains Resources Ltd. (TSXV:E...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Plains Provides Corporate Update, Future OutlookCRANBROOK, BC / ACCESSWIRE / March 14, 2023 / Management of Eagle Plains Resources Ltd. (TSXV:EPL) (\"EPL\", \"Eagle Plains\" or the \"Company\") is pleased to provide information regarding important developments relating to the Company and to inform shareholders on significant upcoming events.Highlights:Milestones:Arrangement Agreement, Amalgamation Agreements executed relating to proposed spin out of Eagle Royalties, expected Record Date March 17th, 2023 (NR Mar 1, 2023);Significant mineralization reported on 100% owned Vulcan Property (NR Dec 7, 2022);Multiple lithium-related projects recently acquired (NR Mar 2, 2023);Eagle Plains holds over $11M in cash, in addition to substantial investment, real estate assets;Annual net revenues from 100%-owned TerraLogic averaging >$1M/year for past 5 years;Taiga Gold merger generated $3.5M cash to EPL during 2022;Seven active option agreements in place-aggressive exploration planned.Outlook:Completion of Eagle Royalties Spin-out expected late April, 2023;Numerous drill programs planned for 2023 (Eagle Plains and partners) including the Vulcan;Continuing EPL project generator model with new British Columbia and Saskatchewan projects;Continuing focus on critical metals, energy metals and precious-metal projects;Terrralogic Exploration Services has confirmed multiple third-party exploration programs for 2023.Eagle Royalties Spin-OutIn late 2022 Eagle Plains announced the formation of Eagle Royalties (\"ER\"), a wholly-owned subsidiary mandated with managing the extensive royalty assets acquired by Eagle Plains after 30 years of exploration in Western Canada. Over 50 royalty assets were subsequently transferred to ER, covering a broad spectrum of commodities including precious-metals, critical-metals (copper, zinc, graphite, lithium, uranium, REE's), diamonds and industrial minerals. Over twenty of these royalty assets are related to lands held by third parties such as Cameco Corp., Iso Energy Corp., Denison Mines Corp., Skeena Resources Ltd. and Hecla Mining Co./Banyan Gold Corp., among many others.On January 4th, 2023 Eagle Plains announced its intention to spin-out Eagle Royalties to its shareholders on a 1:3 basis, while concurrently amalgamating with 1386884 BC (\"138\"), a well-funded private BC corporation, which would facilita...