Business
Sylla Gold Reminds Shareholders of Upcoming Annual and Special Meeting of Shareholders
Bedford, Nova Scotia--(Newsfile Corp. - November 5, 2021) - Sylla Gold Corp. (TSXV: SYG.H) (...
About this update from Sylla Gold Corp
[{"type":"text","content":"Sylla Gold Reminds Shareholders of Upcoming Annual and Special Meeting of ShareholdersBedford, Nova Scotia--(Newsfile Corp. - November 5, 2021) - Sylla Gold Corp. (TSXV: SYG.H) (the \"Company\") would like to remind shareholders of the upcoming annual and special meeting of the shareholders of the Company to be held on Friday, November 12, 2021, at 3:00 p.m. (Atlantic time) at Suite 802, 1550- Bedford Highway, Nova Scotia (the \"Meeting\"). The Meeting is being held to elect the directors of the Company, appoint the auditors of the Company, confirm and approve the stock option plan of the Company and to approve a proposed related party transaction (the \"Transaction\") between the Company and Niaouleni Gold Inc. (\"Niaouleni Gold\") pursuant to which the Company has the option to acquire all of the issued and outstanding shares of Niaouleni Gold Mali SARL (\"Niaouleni Mali\"), which holds a 100% interest in a gold and group 2 mineral substances research and exploration permit located in the Republic of Mali (the \"Niaouleni Permit\"). The independent directors of the Company recommend that shareholders of the Company vote FOR the Transaction. Background on the TransactionTouba Mining SARL (\"Touba\") of Bamako Mali has been in control of the Niaouleni Permit for almost 20 years and has optioned the Niaouleni Permit to companies in the past. The last company to have optioned the permit failed to complete work commitments and pay renewal fees resulting in the DNGM/Mali Ministry of Mines (the \"Ministry\") revoking the Niaouleni Permit and Touba re-acquiring the permit from the Ministry after it committed to a very substantial work commitment. Gregory Isenor, a director and officer of the Company, assisted Touba with respect to re-acquiring the Niaouleni Permit. As consideration for his assistance, Gregory Isenor received an interest in the Niaouleni Permit through a 50% interest in Niaouleni Gold. After re-acquiring the Niaouleni Permit, Touba Mining attempted to find a party to advance the Niaouleni Permit through conducting exploration work.The initial party that reviewed the Niaouleni Permit spent considerable time and expenses conducting due diligence of the Niaouleni Permit, however ultimately felt that they did not want to overextend them selves beyond their existing core assets. In order for the Company to perform its analy...