Business
Gladiator Metals Announces Completion of Qualifying Transaction and Concurrent Financing
Vancouver, British Columbia--(Newsfile Corp. - October 12, 2021) - Gladiator Metals Corp. (TSXV: GLAD) ("Gladiator" or the "Company"), formerly Cairo Resources
About this update from Gladiator Metals Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - October 12, 2021) - Gladiator Metals Corp. (TSXV: GLAD) (\"Gladiator\" or the \"Company\"), formerly Cairo Resources Inc. (TSXV: QAI.H), is pleased to announce that it has completed its previously announced acquisition (the \"Transaction\") of Bangles Gold Pty. Ltd. (\"Bangles\"). In connection with the Transaction, the Company changed its name to \"Gladiator Metals Corp.\" The Transaction will constitute the Company's \"Qualifying Transaction\" pursuant to Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange (the \"Exchange\") and the Company will carry on the business of Bangles. The Company also completed its non-brokered private placement of units of the Company (each, a \"Unit\") at a price of $0.28 per Unit for gross proceeds of approximately $2,380,000 (the \"Concurrent Financing\"). The Company's common shares (the \"Common Shares\") will resume trading on the Exchange under the new ticker symbol \"GLAD\" after the Exchange's final conditions for listing are satisfied and the Exchange issues its final exchange bulletin confirming the completion of the Transaction. The Common Shares are anticipated to resume trading on or about October 14, 2021. The focus of the Company's business going forward will be the acquisition, development and operation of mineral property, with its principal focus at this stage on the Koonenberry North Project located in New South Wales (\"NSW\"), Australia. The Koonenberry North Project consists of three (3) exploration licences (the \"EL's\") totalling 682km2. The ELs cover sections of the mineralised Koonenberry Fault and associated secondary faults and splays located in the north west of NSW. Further information about the Koonenberry North Project can be found in the technical report, entitled \"Independent Technical Report, Koonenberry North Project, NSW, Bangles Gold Pty Ltd\" and dated effective May 3, 2021 (the \"Technical Report\"), prepared by Geos Mining Mineral Consultants and authored by Murray Hutton, BA (Hons) Geology, MAIG, a \"qualified person\" (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects), which can be found on the Company's SEDAR profile at www.sedar.com. The Company acquired all of the issued and outstanding shares of Bangles pursuant to ...