Business
Rackla Provides Update on Acquisition of Misisi Gold Project; Proposes Name Change
(TheNewswire) Vancouver, British Columbia  - TheNewswire  ...
About this update from Rackla Metals Inc.
[{"type":"text","content":"Rackla Provides Update on Acquisition of Misisi Gold Project; Proposes Name Change\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia  -\n \n \n TheNewswire\n \n \n – June 4, 2021 – Rackla Metals Inc.\n(“Rackla” or the “Company”) (TSXV:RAK) announces that, further\nto its news release of May 5, 2021, it continues to work on satisfying\nthe conditions precedent to its acquisition of a 73.5% interest in the\nMisisi Gold Project (“Project”) located in the Democratic Republic\nof the Congo (“DRC”).\n \n \n \n \n The Company has entered into a share purchase agreement\n(the “Definitive Agreement”) to acquire all of the issued and\noutstanding shares from an arm’s length vendor, Golden Mining Ltd.\n(“Golden Mining”). The Project is owned by Leda Mining Congo SA\n(“Leda”), of which Casa Mining Limited (“Casa Mining”) owns a\n73.5% interest, with the remaining interest in Leda held by Minerals\nand Metals Group, owning 21.5% (participating interest), and the DRC\nGovernment owning a 5% free-carried interest. Golden Mining has\nentered into a share purchase agreement with Golden Square Equity\nPartners Limited to acquire 99.43% of the outstanding shares of Casa\nMining (the “Casa Mining SPA”).\n \n \n \n \n Under the terms of the Casa Mining SPA, Golden Mining\nis acquiring the outstanding shares of Casa Mining for total cash\nconsideration of US$4.8 million in staged cash payments. Under the\nDefinitive Agreement, the Company will acquire Golden Mining through\nthe issuance of up to 11.0 million common shares of Rackla at a deemed\nprice per share of $0.40, and will assume the obligation to make the\nrequired payments under the Casa Mining SPA.\n \n \n \n \n The transaction is subject to Rackla completing a\nfinancing raising a minimum of $5,000,000, TSX Venture Exchange\napproval and other customary conditions.\n \n \n \n \n Rackla also announces that management intends, subject\nto TSX Venture Exchange approval, to change the name of the Company to\nGolden Hawk Resources Ltd.\n \n \n \n \n ON BEHALF OF THE BOARD\n \n \n \n \n Simon Ridgway,\n \n \n \n \n CEO and Director\n \n \n \n \n Tel: (604) 801-5432; Fax: (604) 662-8829\n \n \n \n \n Email: info@goldgro...