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Trillium Gold and Pacton Gold Combine to Create Dominant Strategic Land Position in Red Lake
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Renegade Gold Inc.
[{"type":"text","content":"Trillium Gold and Pacton Gold Combine to Create Dominant Strategic Land Position in Red LakeNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / March 16, 2023 / Trillium Gold Mines Inc. (TSXV:TGM)(FRA:0702) (\"Trillium\") and Pacton Gold Inc. (TSXV:PAC)(OTC:PACXF)(FSE:2NKM) (\"Pacton\") are pleased to announce that they have entered into an arrangement agreement dated March 15, 2023 (the \"Agreement\") to combine the two companies to create the leading gold explorer and dominant strategic land holder, over 15 projects covering over 1,260 km2 in the prolific Red Lake Mining District of Northern Ontario (the \"Transaction\").Under the terms of the Agreement, Trillium and Pacton will merge on an at-market basis, with each common shareholder of Pacton (each, a \"Pacton Shareholder\") entitled to receive 1.275 common shares of Trillium (each whole such common share, a \"Trillium Share\") in exchange for each Pacton common share held (each, a \"Pacton Share\"). Upon completion of the Transaction, existing Trillium and Pacton shareholders will own 53% and 47%, respectively, of the combined company.Transaction HighlightsEstablishes dominant and strategic land position in the prolific Red Lake Mining District: With over 1,260 km2 of properties extending across the Red Lake Mining District, the combined company's property holdings will be larger than major gold producers in the district such as Evolution Mining Limited (\"Evolution\") and Kinross Gold Corporation (\"Kinross\").Substantial synergies: The companies expect material cost savings and synergies from the consolidation of corporate overheads and exploration programs across this prolific mineral district. Pacton's Red Lake Gold Project is located within 20 km of Trillium's Newman Todd Complex and the western portion of its Confederation Belt properties. In addition, Trillium's Leo and Pakwash properties are located immediately south of Pacton's Dixie and Pakwash properties.Enhanced capital markets profile: The proposed Transaction will result in a greater combined market capitalization and an expanded institutional investor base. Shareholders are also expected to benefit from enhanced trading liquidity and a more robust treasury following completion of the Transaction.Proven leadership and technical team wit...