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NV Gold Enters Definitive Agreement in Regards to the Acquisition of Redstar Gold Corp.'s Nevada Assets Including Extensive Geological Database and 11 Gold Projects
(via Thenewswire.ca) Vancouver, BC / TheNewswire / September 2, 2016 - Redstar Gold C...
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[{"type":"text","content":"NV Gold Enters Definitive Agreement in Regards to the Acquisition of Redstar Gold Corp.'s Nevada Assets Including Extensive Geological Database and 11 Gold Projects(via Thenewswire.ca)\n\n \nVancouver, BC / TheNewswire / September 2, 2016 - Redstar Gold Corp. (TSX.V: RGC, US: RGCTF, FRA: RGG) (\"Redstar\" or the \"Company\") is pleased to announce it has entered into the Definitive Agreement with NV Gold Corporation (TSX.V:NVX) (\"NVX\"), finalizing the detailed terms of the Letter of Intent (\"LOI\") previously announced on August 2, 2016, under which NVX will acquire 100% of Redstar's exploration assets in Nevada. These assets consist of a 100% interest (less existing NSRs) in 11 exploration projects (the \"Projects\") in Nevada, as well as the AngloGold-Ashanti database (the \"Database\") purchased by Redstar in 2008. \n\n\n \n\"Redstar is pleased to have reached the Definitive Agreement stage with NV Gold and to officially hand over a solid portfolio of gold projects, along with an extensive database, focused in Nevada. The interest in NV Gold's future and strategy is clearly indicated by the strong interest and subsequent increase in the private placement in NVX. We look forward to being part of the team and large shareholder of NV Gold,\" commented Peter A. Ball, CEO of Redstar.\n\n\n \nUnder the terms of the Definitive Agreement, NVX will acquire the Database and the Projects in consideration of NVX issuing to Redstar 6,000,000 common shares of NVX and Redstar having the right to name two of a proposed 6 member board of NVX. Under the definitive agreement, NVX is required to raise CDN$350,000 within 90 days of the completion of the definitive agreement. \n\n\n \nOn August 11, 2016, NVX announced a private placement (\"the Financing\") of CDN$500,000, and NVX has subsequently announced on August 26, 2016 that the Financing was increased to CDN$550,000 based on a strong interest in the Company's strategy going forward, which includes the newly purchased assets in Nevada and experienced technical management team. John Watson, CEO of NVX has confirmed he will subscribe to a lead order of the placement for up to CDN$117,000.\n\n\n \nJohn E. Watson, President of NVX, states: \"With the completion of the Definitive Agreement, the path has been set for NVX to undertake its Project Generator business model. In addition to the 11 p...