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Golden Spike Resources Signs Letter of Intent To Acquire 100% of Golden Horizon Exploration
VANCOUVER, BC / ACCESSWIRE / June 17, 2022 / Golden Spike Resources Corp. (CSE:GLDS) ("Golden Spike" or the "Company") is pleased to announce that it has entere
About this update from Golden Spike Resources Corp.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / June 17, 2022 / Golden Spike Resources Corp. (CSE:GLDS) (\"Golden Spike\" or the \"Company\") is pleased to announce that it has entered into a non binding letter of intent (\"LOI\") with Golden Horizon Exploration Corp. (\"Golden Horizon\") in order to acquire 100% of the issued and outstanding shares of Golden Horizon (the \"Proposed Transaction\"). In connection therewith, the shareholders of Golden Horizon will receive one common share in the capital of the Company (a \"Golden Spike Share\") for each common share of Golden Horizon held, resulting in the Company issuing an aggregate of 11,300,000 Golden Spike Shares (which will represent approximately 35.76% of the issued and outstanding Golden Spike Shares). Pursuant to the terms of the LOI, the parties have agreed to proceed with the good faith negotiation and execution of a draft definitive agreement that will set out all of the terms of the Proposed Transaction (the \"Definitive Agreement\"). Golden Spike CEO Keith Anderson commented, \"We are very excited to have signed this LOI to acquire Golden Horizon and thereby acquire a 100% interest in its Gregory River Property, a mineral exploration property located in a very prospective mineral belt in one of the more favourable jurisdictions worldwide. Many parts of Newfoundland, including the Gregory River Property still remain relatively underexplored and offer an exciting opportunity for new discoveries. In addition, the province offers a favorable regulatory environment and supportive communities with near year-round operating conditions and excellent nearby infrastructure. We look forward to completing our due diligence and entering into a definitive agreement with Golden Horizon shortly thereafter and providing a very exciting opportunity for Golden Spike shareholders.\" Golden Spike will have the right to conduct a full due diligence investigation on Golden Horizon and Golden Horizon will have the right to conduct a full due diligence investigation on Golden Spike for a period of sixty days commencing on the signing of the LOI. There can be no assurance that the Proposed Transaction will be completed on the terms proposed in the LOI or at all. Upon the execution of a Definitive Agreement between the Company and Golden Horizon, the Company will issue a subsequent press release disclosing the...