Business
Valhalla Metals Completes Reverse Takeover, Private Placement with Strategic Investment by Marubeni Corporation
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2022) - Valhalla Metals Inc. (TSX...
About this update from Valhalla Metals Inc.
[{"type":"text","content":"Valhalla Metals Completes Reverse Takeover, Private Placement with Strategic Investment by Marubeni CorporationVancouver, British Columbia--(Newsfile Corp. - September 19, 2022) - Valhalla Metals Inc. (TSXV: SDC) (formerly, SolidusGold Inc.) (\"Valhalla\" or the \"Company\") is pleased to announce the completion of its previously announced reverse takeover transaction (the \"Transaction\"). Pursuant to the Transaction, a subsidiary of the Company merged with the target (formerly, Valhalla Metals, Inc.) (the \"Target\") and securityholders of the Target received securities in the capital of the Company, as further described below. The Transaction constituted a 'reverse takeover' of the Company pursuant to Policy 5.2 of the TSX Venture Exchange (the \"TSXV\").Rick Van Nieuwenhuyse Chairman of the Board stated: \"In a time when the United States is working to secure domestic sources of critical minerals, we are happy that we could successfully complete the transaction to acquire two high-grade copper-zinc and precious metal rich massive sulfide projects, in northwestern Alaska - Sun and Smucker. We successfully raised significant funds, which in today's markets is a testament to the experience and expertise of the Valhalla Management and Board. We look forward to continuing to establish good relationships with local communities and work together to achieve a domestic source of critical minerals for the United States. The historic work completed at Sun to date represents a good start with established resources, but we believe we can greatly expand and advance the Sun deposit by drilling down-dip and along strike. A detailed VTEM conductor plate model of the area shows several other newly identified high-quality targets leaving plenty of work to be done. We will bring the most ‎up-to-date exploration techniques to bear on these exciting, but under-explored VMS deposits with focused exploration programs over the ‎next several years with the support of our strategic investor - Marubeni - who brings a vast amount of ‎knowledge in the downstream copper business. We are confident that the exploration and development of our projects will greatly help the green-energy transition by providing a secure source for strategic and critical minerals that the US desperately needs to achieve the net-zero goals by 2050. We a...