Business
Richmond Road Capital Corp. Enters into Definitive Agreement with Fredonia Management Ltd.
Calgary, Alberta--(Newsfile Corp. - April 8, 2021) - Richmond Road Capital Corp. (TSXV: RRD.H)...
About this update from Fredonia Mining, Inc.
[{"type":"text","content":"Richmond Road Capital Corp. Enters into Definitive Agreement with Fredonia Management Ltd.Calgary, Alberta--(Newsfile Corp. - April 8, 2021) - Richmond Road Capital Corp. (TSXV: RRD.H) (\"RRCC\"), a capital pool company listed on the TSX Venture Exchange (the \"Exchange\"), and Fredonia Management Ltd. (\"Fredonia\"), a company incorporated under the laws of the British Virgin Islands with gold and silver exploration properties in the Deseado Massif, Santa Cruz, Argentina, are pleased to announce that they have signed a definitive agreement dated April 7, 2021 (the \"Definitive Agreement\") in respect of a proposed business combination completed by way of a three-corned amalgamation that will result in the reverse takeover of RRCC by Fredonia (the \"Proposed Transaction\"). It is anticipated that the Proposed Transaction will constitute RRCC's \"Qualifying Transaction\" pursuant to Policy 2.4 of the Exchange. Following the completion of the Proposed Transaction, the resulting entity (the \"Resulting Issuer\") will hold all of the assets and continue the business of Fredonia. Additional InformationFor a comprehensive description of the Proposed Transaction, see the January 11, 2021 news release issued by RRCC, a copy of which is available on RRCC's SEDAR profile at www.sedar.com. About FredoniaFredonia, incorporated under the laws of the British Virgin Islands, directly or indirectly, owns 100% interest in certain license areas (totaling approximately 18,300 ha.) (collectively, the \"Project\"), all within the Deseado Massif geological region in the Province of Santa Cruz, Argentina, including the following principal areas: El Aguila, approx. 9,100ha, Petrificados, approx. 3,000ha, and the flagship, advanced El Dorado-Monserrat (\"EDM\") covering approx. 6,200ha located close to Anglo Gold Ashanti's Cerro Vanguardia mine, subject to a 1.5% net smelter return royalty on the EDM, 0.5% net profits interest on Winki II, El Aguila I, El Aguila II and Petrificados.About the ProjectThe Deseado massif is a tectonic block which comprises Jurassic and Cretaceous volcanic outpouring, containing two important geological groups: the Bajo Pobre and Chon Aike both of which are prospective for low sulphidation epithermal style gold-silver mineralisation, such as being exploited at the Cerro Vanguardia gold - silver mine.The property contains oth...