Business
Newrange Gold Signs Binding Agreement to Acquire Mithril Resources
(TheNewswire) Vancouver, B C - TheNewswire - May 25, 2023 - ...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"Newrange Gold Signs Binding Agreement to Acquire Mithril Resources\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B\n \n \n \n \n C -\n \n \n \n \n TheNewswire -\n \n \n \n \n May 25, 2023 -\n \n \n \n \n Newrange Gold Corp.\n \n \n \n \n (\"\n \n \n \n \n Newrange\n \n \n \n \n \" or the “\n \n \n \n \n Company\n \n \n \n \n \")\n(TSXV:NRG\n \n \n \n \n )\n \n \n \n \n (OTC\n \n \n \n \n :NRGOF\n \n \n \n \n )\n \n \n \n \n (\n \n \n \n \n Frankfurt:X6C) –\n \n \n \n is pleased\nto announce that it has signed a binding agreement with Mithril\nResources Limited (“\n \n \n Mithril\n \n \n ”) dated May 25, 2023, for a proposed\nfriendly business combination of the two companies.  Under the terms\nof the agreement,\n \n \n Newrange will acquire\n \n \n 100%\n \n \n of the issued share\ncapital of Mithril, resulting in Newrange remaining as the surviving\nentity.  The\n \n \n arm’s length\n \n \n transaction will be classified as a Reverse Take Over under\nthe rules of the TSX Venture Exchange\n \n \n (the\n“\n \n \n RTO”\n \n \n ) and the resulting issuer will be a Tier 2 mining\nissuer.\n \n \n \n \n Highlight\n \n \n s\n \n \n \n \n \n \n Newrange and Mithril (ASX: MTH) have signed a binding\nScheme Implementation Deed (\n \n \n SID\n \n \n ) for the implementation of a Scheme of\nArrangement (\n \n \n Scheme\n \n \n ) under which Newrange will acquire 100%\nof the issued capital of Mithril.\n \n \n \n \n \n \n Mithril is an exploration company listed on the ASX\n with a current focus on the pre-development Copalquin Gold-Silver\nProject in Durango State, Mexico\n \n \n that hosts a\nsubstantial high-grade gold-silver JORC-compliant maiden resource in\njust one of several targets, with significant growth\npotential\n \n \n (refer to\n \n \n \n \n Newrange news release of\nMarch 6, 2023\n \n \n \n \n or\n \n \n \n \n https://mithrilresources.com.au/projects/copalquin-district-mexico/\n \n \n \n \n ).\n \n \n \n \n \n \n Pursuant to the Scheme, Newrange will issue to the\nMithril securityholders the following:\n \n \n \n \n \n \n 18.08 Newrange shares for every 1,000 Mithril shares\nheld as at the Record Date for a total of\n \n \n \n \n 60,907,985\n \n \n Newrange common shares a...