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Newrange Gold Signs Non-Binding Term Sheet for Business Combination with ASX Listed Mithril Resources to Create a New Americas-Focused Exploration & Development Company
(TheNewswire) Highlights: Newrange Gold Corp. (“Newrange”) has en...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"Newrange Gold Signs Non-Binding Term Sheet for Business Combination with ASX Listed Mithril Resources to Create a New Americas-Focused Exploration & Development Company\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 Highlights:\n \n \n \n \n \n \n Newrange Gold Corp. (“Newrange”) has entered into a\nnon-binding term sheet with Mithril Resources Limited (ASX: MTH) for\nthe friendly, at-market business combination of the two companies,\nwhereby Newrange will acquire 100% of the issued capital in Mithril\nResources via a reverse takeover (the “RTO”).\n \n \n \n \n \n \n The non-binding term sheet is conditional upon a number\nof standard conditions, including completion of satisfactory due\ndiligence by each of the parties on each other, completion of\nfinancings, the acceptance of the RTO by the shareholders of Mithril\nResources and the TSX Venture Exchange, and the negotiation and\nexecution of a formal Definitive Agreement.\n \n \n \n \n \n \n As a result of the RTO, the companies will expand and\ndiversify their project portfolios under development and enhance their\nmanagement teams to benefit from their collective discovery and mine\ndevelopment experience underpinned by a track record of\nvalue-creation.\n \n \n \n \n \n \n The combined Board and Management from Mithril and\nNewrange will result in a strong team with considerable years of\nexperience and success operating in the prolific Sierra Madre\ngold-silver belt of Mexico, where Mithril’s high-grade,\ndistrict-scale, epithermal gold-silver Copalquin Project is\nlocated.\n \n \n \n \n \n \n Mithril will\n \n \n enhance its market\npresence with a listing on the TSX Venture Exchange, thereby\nbroadening research coverage and trading liquidity, while Newrange\nshareholders will gain exposure to a district-scale gold-silver\nproperty that already hosts a substantial high-grade gold-silver\nJORC-compliant resource in just one of several targets, with\nsignificant growth potential.\n \n \n \n \n \n \n At the El Refugio target area, within the Copalquin\nProject, there is a Historic Maiden JORC-compliant Mineral Resource\nEstimate\n \n \n (Rodney Webster, principal Consultant,\nAMC Consultants Pty Ltd, 16 November 2021) comprising 691,000 tonnes @\n5.43 g/t gold, 114...