Stakeholder Announces LoI and Seeks Disinterested Shareholder Approval

About this update from Stakeholder Gold Corp.

[{"type":"text","content":"Stakeholder Announces LoI and Seeks Disinterested Shareholder ApprovalToronto, Ontario--(Newsfile Corp. - May 15, 2020) - Stakeholder Gold Corp. (TSXV: SRC) (\"Stakeholder\" or the \"Company\") announces that it has signed a Letter of Intent dated May 15th, 2020 (\"LoI) with Victoria Mining Corporation (\"VMC\"). The LoI relates to the proposed amalgamation of SRC with VMC (the \"Transaction\").About Victoria Mining Corporation and the Nature of the AssetVictoria Mining Corporation is a privately-owned Mining Company incorporated under the laws of Ontario, Canada. VMC currently has one exotic quartzite extraction project located in Minas Gerais, Brazil and has received all the regulatory licenses and approvals required for operations.VMC's quarry assets are production ready and VMC is expected to generate revenue upon the commencement of operations. The timing of production startup, however, is uncertain due to the ongoing Covid-19 Pandemic. The nature of VMC's property is considered bulk extraction and refinement as opposed to exploration and evaluation. All contractors engaged for the extraction process shall be paid on a variable material production basis. The project is expected to generate cashflow through quarrying and product sales, while contracting costs are paid from the proceeds of the commercial product.Terms of the Proposed TransactionUnder the terms of the LOI, it is intended that the Transaction be carried out by way of a three-cornered amalgamation pursuant to an amalgamation agreement (the \"Definitive Agreement\") to be entered into among the parties. Pursuant to the Transaction, a wholly-owned subsidiary of Stakeholder will amalgamate with VMC to form a newly amalgamated company, and former VMC shareholders will receive 10,225,000 Stakeholder Gold Common Shares. As a result, Stakeholder will indirectly carry on the business of VMC following completion of the Transaction. There is no finders fee associated with this transaction. The Company and VMC are currently finalizing the terms of the Definitive Agreement. The Company will provide further details in respect of the Transaction, including a summary of the final agreed-upon material terms and conditions, once a Definitive Agreement has been completed by the parties.Completion of the proposed transaction is subject to a number of conditions including, but not ...

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