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GoldMining Announces Receipt of Key Approval for its Acquisition of the Yellowknife Gold Project and Big Sky Property
GoldMining Announces Receipt of Key Approval for its Acquisition of the Yellowknife Gold P...
About this update from Goldmining Inc.
[{"type":"text","content":"\n\n\n\nGoldMining Announces Receipt of Key Approval for its Acquisition of the Yellowknife Gold Project and Big Sky Property\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 13, 2017\n\n\n\nVANCOUVER, June 13, 2017 /CNW/ - GoldMining Inc. (\"GoldMining\" or the \"Company\") (TSX-V: GOLD; OTCQX: GLDLF) is pleased to announce that, further to its news release dated May 10, 2017, the Supreme Court of British Columbia has issued an order approving the agreement (the \"Agreement\") between GoldMining, its wholly-owned subsidiary and the receiver appointed in respect of Tyhee N.W.T. Corp. under the Bankruptcy and Insolvency Act, pursuant to which the Company will acquire 100% of the Yellowknife Gold Project (\"YGP\" or the \"Project\") and nearby Big Sky Property (\"Big Sky\"). \n\nThe Company's acquisition of YGP and Big Sky remain subject to customary closing conditions, including completion of asset transfers. The Company currently expects the transaction will complete in late-June 2017.\n\nAs previously announced, the total consideration payable by GoldMining under the transaction consists of 4,000,000 common shares of the Company, which will be subject to customary escrow provisions and released over an eight-month period. Please refer to the Company's news release dated May 10, 2017 for further information regarding the Agreement and the transaction contemplated thereunder.\n\nAbout YGP and Big Sky\n\nThe YGP has been the subject of substantial drilling, underground development and historic gold production. Big Sky represents an earlier stage exploration property package located south of the YGP and 17 km north of the city of Yellowknife. \n\nThe YGP includes a 50-person winterized camp and fuel storage and is accessible by winter road from Yellowknife or by air to a 1,000 m long gravel airstrip located on site. The YGP is comprised of five deposits — Nicholas, Ormsby, Bruce, Goodwin and Clan Lake — located 50 to 90 km north of the city of Yellowknife in the Northwest Territories. \n\nOver 230,000 metres of diamond drillin...