Business
ECC Ventures 2 Corp. Enters Letter of Intent with Infield Minerals Corp. for Qualifying Transaction
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. ...
About this update from Infield Minerals Corp
[{"type":"text","content":"ECC Ventures 2 Corp. Enters Letter of Intent with Infield Minerals Corp. for Qualifying TransactionNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.VANCOUVER, BC / ACCESSWIRE / November 13, 2020 / ECC Ventures 2 Corp. (\"ECC2\" or the \"Company\") (TSXV:ETWO.P) is pleased to announce that it has entered into a non-binding letter of intent (the \"LOI\") dated effective November 9, 2020 outlining the general terms and conditions with respect to a proposed acquisition (the \"Acquisition\") by ECC2 of all the issued and outstanding share capital of Infield Minerals Corp. (\"Infield\").The Acquisition of Infield will constitute a reverse takeover and ECC2's Qualifying Transaction under Policy 2.4 of the TSX Venture Exchange (the \"Exchange\"). Assuming completion of the Acquisition, it is anticipated that ECC2 will graduate to Tier 2 of the Exchange as a mining issuer.Infield is a private company incorporated pursuant to the laws of British Columbia on March 25, 2019. Infield's sole director is Evandra Nakano of Vancouver, British Columbia, and its officers are Evandra Nakano as President and CEO, and Richard Dufresne of Vancouver, British Columbia, as VP Exploration. Infield has a current working capital position of approximately $1,545,000, has 15,675,100 common shares (the \"Infield Shares\") issued and outstanding, and has no options, warrants or other classes of securities outstanding. Evandra Nakano controls 3,500,100 (22.3%) of the issued and outstanding Infield Shares. Infield's principal asset is the Mercury One Property (the \"Property\") in the state of Nevada, USA. Infield also has an option on an additional silver-gold project in Nevada (the \"Bandit Property\").Mercury One Property DescriptionThe Property is located approximately 75 km north of the city of Ely in White Pine County, Nevada. It consists of 250 contiguous unpatented lode mining claims for a total of 2,090 hectares. The project is road accessible with nearby infrastructure, including US Highway 93 and 69kV transmission lines six km west of the Property.The Property was explored for silver in the 1870s once the Pony Express Trail was developed through the Shellbourne Pass. Aside from the silver rush in the 1870s, there is little to no documented systematic exploration on the Property until 1988. Between 1988 and 1991, ...