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RooGold Completes Acquisition of NextGen Adding Battery Metals Optionality In Resource-Rich Liberia to Its Precious Metals Portfolio in Australia
TORONTO, ON / ACCESSWIRE / February 22, 2023 / RooGold Inc. (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA) ("RooGold" or the "Company") and Next Generation Resourc
About this update from Metalite Resources Inc
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / February 22, 2023 / RooGold Inc. (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA) (\"RooGold\" or the \"Company\") and Next Generation Resources Inc. (\"NextGen\") are pleased to announce that, further to the Company's press release dated December 21, 2022, the parties have closed the acquisition by RooGold of all of the issued and outstanding shares of NextGen pursuant to a three-cornered amalgamation on February 21, 2023. This acquisition provides RooGold with access to NextGen's highly prospective property interests in Liberia targeting lithium, rare earth elements (REEs), nickel, cobalt, copper, zinc and gold with a focus on battery metals. Utilizing historical geology data, regional stream sampling data, interpretation of regional geophysics, and field reconnaissance work, NextGen has obtained eight extensive mineral reconnaissance licenses covering 3,233 square kilometres across Liberia. Transaction Structure The transaction was structured as a three-cornered amalgamation completed pursuant to an amalgamation agreement (the \"Definitive Agreement\") entered into between the Company, a newly incorporated wholly-owned subsidiary of the Company and NextGen. Pursuant to the terms of the Definitive Agreement, in connection with the amalgamation RooGold issued a total of 72,499,200 common shares, 29,901,600 common share purchase warrants and 1,688,000 agent warrants. The common share purchase warrants have exercise prices ranging from $0.025 to $0.125 and all of such warrants expire on February 21, 2025. The 2,152,000 warrants with an exercise price of $0.025 contain an accelerated expiry provision such that if the closing price of the common shares in the capital of the Company on the Canadian Stock Exchange is in excess of $0.025 for a period of 10 consecutive trading days then the expiry date shall be accelerated to the date that is 30 days following the date that is 7 days after the end of the 10 consecutive trading day period referenced above. The 1,688,000 agent warrants also have an exercise price of $0.025 and are subject to the same acceleration clause. 25,749,600 of the common share purchase warrants have an exercise price of $0.10 until February 21, 2024 and an exercise price of $0.125 from February 22, 2024 until February 21, 2025. The final 2,000,000 warrants have an exercise price of $0.0625....