Business
First Mining Signs Definitive Agreement with Treasury Metals to Combine the Goldlund and Goliath Gold Projects in Ontario, Canada
Creates a District-Scale, Multi-Million Ounce Gold Developer First Mining to Become Tre...
About this update from First Mining Gold Corp.
[{"type":"text","content":"First Mining Signs Definitive Agreement with Treasury Metals to Combine the Goldlund and Goliath Gold Projects in Ontario, CanadaCreates a District-Scale, Multi-Million Ounce Gold DeveloperFirst Mining to Become Treasury's Largest Shareholder and Plans to Distribute the Majority of Treasury Metals Shares and Warrants Directly to First Mining ShareholdersVANCOUVER, BC / ACCESSWIRE / June 3, 2020 / First Mining Gold Corp. (\"First Mining\" or the \"Company\") (TSX:FF) (OTCQX:FFMGF) (FRANKFURT:FMG) is pleased to announce that it has entered into a definitive share purchase agreement (the \"Agreement\") with Treasury Metals Inc. (\"Treasury Metals\" or \"TML\") (TSX: TML) (OTCQX: TSRMF) (FRANKFURT: TRC) pursuant to which Treasury Metals will acquire all of the issued and outstanding shares of Tamaka Gold Corporation, a wholly-owned subsidiary of First Mining that owns the Goldlund Gold Project (\"Goldlund\") (the \"Transaction\"). Combining Goldlund with Treasury Metals' adjacent Goliath Gold Project (\"Goliath\") creates a district-scale, multi-million ounce gold project positioned for advancement towards construction in a favourable mining jurisdiction.\"We are very excited to be part of this regional consolidation in Ontario,\" stated Dan Wilton, CEO of First Mining. \"Combining our Goldlund asset with Goliath creates an attractive opportunity to immediately establish shareholder value through the potential synergies that these two assets share, given their regional proximity. Importantly, our shareholders will retain significant exposure to the future upside of the combined projects through not only a large equity stake in Treasury Metals, but also through warrants, a royalty, and milestone payments that are aligned with the advancement of Goldlund.\"\"I am pleased to be delivering value for our shareholders through the regional consolidation of this multi-million-ounce gold district in Ontario,\" stated Keith Neumeyer, Chairman and Founder of First Mining. \"This transaction delivers on the promise we made to our shareholders when we established First Mining in 2015 to return value to our shareholders and create new district-scale opportunities. We believe that the pro forma company is well positioned to benefit from the current rising gold market given the district-scale potential of these two projects and the robust co-develo...