Business
Margaret Lake Enters into Non-Binding Letter of Intent to Acquire Emerging Goldfields Resources Ltd.
(TheNewswire) Vancouver, British Columbia - TheNewswire - July 12, 2023 - Marga...
About this update from Vault Strategic Mining Corp.
[{"type":"text","content":"Margaret Lake Enters into Non-Binding Letter of Intent to Acquire Emerging Goldfields Resources Ltd.\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n July 12, 2023 -\n \n \n Margaret Lake Diamonds Inc.\n \n \n (TSXV:DIA) (OTC:DDIAF) (FSE:M85A)\n(\"DIA\" or the \"Company\")\n \n \n is\npleased to announce that it has signed a non-binding letter of intent\ndated June 26\n \n \n th\n \n \n , 2023 (the \"\n \n \n LOI\n \n \n \") with\nEmerging Goldfields Resources Ltd. (\"\n \n \n Emerging\n \n \n \"), an\narm’s length private company incorporated under the\n \n \n Business Corporations Act\n \n \n (Alberta) (the \"\n \n \n ABCA\n \n \n \"), which sets forth the general\nterms and conditions of a proposed reverse takeover transaction (the\n\"\n \n \n Proposed\nTransaction\n \n \n \"). In addition, and in\nconnection with the Proposed Transaction, the parties have agreed to\nuse their \"commercially reasonable efforts\" to cause\nEmerging to complete a private placement of units of Emerging\n(\"\n \n \n Units\n \n \n \") (the \"\n \n \n Proposed Private Placement\n \n \n \").\n \n \n \n \n The Proposed Transaction will, pursuant to the policies\nof the Exchange, constitute a 'reverse takeover' of the Company. The\ncorporation resulting from the Proposed Transaction (the\n\"\n \n \n Resulting\nIssuer\n \n \n \") will carry on the business of\nEmerging as currently constituted and be listed for trading on the\nExchange as a Tier 2 mining issuer and the Frankfurt Stock Exchange\nunder the name \"Emerging Goldfields Resources Ltd.\", or such\nother name as the parties may agree.\n \n \n \n \n Pursuant to the terms of the LOI, it is intended that\nDIA and Emerging will enter into a business combination by way of a\nshare exchange, merger, amalgamation, arrangement, or other similar\nform of transaction. The final structure of the business combination\nis subject to receipt by the parties of tax, corporate, and securities\nlaw advice and will be agreed to and superseded by a definitive\nagreement (the \"\n \n \n Definitive Agreement\n \n \n \") between DIA and\nEmerging with such agreement to include representations, warranties,\nconditions and covenants typical for a transaction of this\nnature.\n \n \n \n \n Overview of Emerging\n \n \n \n \n Emergi...