Business
Golden Ridge Resources Signs Agreement to Acquire Majority Interest in Brazilian Mining Producer MM Group Ltda.
(TheNewswire) June 6, 2024 – TheNewswire – GOLDEN RIDGE RESOURCES LTD...
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":"Golden Ridge Resources Signs Agreement to Acquire Majority Interest in Brazilian Mining Producer MM Group Ltda.\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n June 6, 2024 –\n \n \n TheNewswire –\n \n \n GOLDEN RIDGE RESOURCES LTD. (TSX-V:\nGLDN)\n \n \n (\"\n \n \n Golden Ridge\n \n \n \" or\nthe \"\n \n \n Company\n \n \n \")\n \n \n is pleased to announce\n \n \n it has entered into a definitive agreement (the\n“\n \n \n Share Exchange\nAgreement\n \n \n ”) dated June 5, 2024 with\n \n \n MM Group LTDA. (“\n \n \n MMG\n \n \n ”), Minas\nMineração Ltda. (“\n \n \n Minas\n \n \n ”) and certain members of MMG\n(collectively, the “\n \n \n Vendors\n \n \n ”)\n \n \n pursuant to\nwhich it will acquire an 80% interest in MMG in consideration of the\nissuance of common shares in the capital of Golden Ridge (the\n“\n \n \n Golden Shares\n \n \n ”) to the Vendors (the “\n \n \n Proposed Transaction\n \n \n ”).\n \n \n It is anticipated that the\nProposed Transaction will constitute a “Reverse Takeover” of\nGolden Ridge in accordance with Policy 5.2 –\n \n \n \n Changes of Business and\nReverse Takeovers\n \n \n \n of the TSX Venture\nExchange (the “\n \n \n Exchange\n \n \n ”). The Proposed Transaction is an\nArm’s Length Transaction as contemplated in Exchange Policy\n5.2.\n \n \n \n \n “We are thrilled to be entering into a definitive\nagreement with MMG. Both parties have worked extremely hard over the\npast several months to get to this point, and I would like to thank\nall involved for their tireless efforts” stated Golden Ridge CEO,\nMike Blady. “MMG has undergone rapid growth since inception and is\npoised to continue a similar trajectory as the business continues to\ndevelop and expand. Upon consummating the Proposed Transaction, the\nnewly minted company will have additional access to capital in Canada,\nthe U.S. and globally, increased visibility and the ability to\nfacilitate growth on a truly world class exchange.”\n \n \n \n \n Rodrigo Quintão, Director of MM\nGroup LTDA\n \n \n stated, “This combination of our\ntwo companies represents a significant new path for growth. The access\nto the capital markets will ...