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C Level Bio International Holding Inc. announces a Conditional Agreement to acquire all the Common Shares of Nevada Exploration Inc.
C Level Bio International Holding Inc. announces a Conditional Agreement to acquire all the Common Shares of Nevada Exploration Inc..
About this update from Urz3 Energy Corp.
[{"type":"text","content":"\n\n\n\n\nMONTREAL, Oct. 10 /CNW Telbec/ - C Level Bio International Holding Inc.\n(\"C Level\") (TSX V: CLV.P), a Capital Pool Company in accordance with the\npolicies of the TSX Venture Exchange Inc. (the \"TSX V\"), is pleased to\nannounce a conditional agreement to acquire all of the issued and outstanding\ncommon shares of Nevada Exploration Inc. (\"NXI\"). This will constitute the\nqualifying transaction of C Level. The qualifying transaction is subject to\nvarious conditions such as its approval by the board of directors of C Level\nand of NXI, the completion of a concurrent private placement of a minimum of\n$1,000,000 as well as obtaining the approval of the TSX V. Furthermore, the\nTSX V has not considered the merits of the contemplated qualifying\ntransaction. A more detailed press release will be subsequently published in\norder to provide additional details on the contemplated qualifying\ntransaction.\nThe value of the transaction is evaluated at $10,500,000 which will be\nentirely paid by issuing up to 70,000,000 common shares of C Level at a\npresumed price of $0.15 per share.\n\nAbout NXI\n\nNXI is a Toronto-based junior exploration company focused on gold\nexploration in Nevada. NXI has 100% ownership interest in two exploration\nproperties in Nevada's major gold trends and is lead by a highly experienced\nmanagement team.\nThe Fletcher Junction Property is located within the volcanic-hosted\nAurora mining district along the Walker Lane Gold Trend. NXI controls the\nentire target with a land position consisting of a contiguous block of 342\nunpatented lode claims (11.0 square miles), subject to a 1.25% net smelter\nreturn. NXI's geochemical sampling programs have shown highly anomalous gold\nin water, vegetation, and soils along a 4 mile long target zone; 150 quartz\nvein boulder rock samples were collected from along the target zone and report\nhighly anomalous gold up to 2.9 oz/t (90.5 g/mt). Permitting with the United\nStates Forest Service for 20 drill sites has been approved and is now in the\nfinal, bonding stage.\nThe Hot Pot Property is located along the Battle Mountain - Eureka Gold\nTrend and lies approximately five miles north - east of Newmont's five million\nounce Lone Tree Mine. NXI has leased the exploration and mining rights on 3.4\nsquare miles of private ranch land, which is subject to an aggre...