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Mansa Exploration Enters Into Letter of Intent With Voltage Metals Inc.
TORONTO, Aug. 16, 2021 /CNW/ - Mansa Exploration Inc. ("Mansa" or the "Company") (CSE: MANS) is pleased to announce that it has entered into a binding letter of
About this update from Voltage Metals Corp
[{"type":"text","content":" TORONTO, Aug. 16, 2021 /CNW/ - Mansa Exploration Inc. (\"Mansa\" or the \"Company\") (CSE: MANS) is pleased to announce that it has entered into a binding letter of intent dated August 13, 2021 (the \"Agreement\") with Voltage Metals Inc. (\"Voltage\"). Pursuant to the Agreement, Mansa will acquire all of the issued and outstanding shares of Voltage in exchange for shares of Mansa (the \"Transaction\"). The Transaction will constitute a reverse takeover of Mansa by Voltage and will be a \"fundamental change\" of Mansa pursuant to the policies of the Canadian Securities Exchange (\"CSE\"), requiring approval from the CSE. Approval of the shareholders of Mansa and Voltage will also be required. Shareholders of Voltage will receive an aggregate of 36,000,000 common shares in the capital of Mansa in exchange for the outstanding common shares of Voltage. About Voltage Metals Inc. Voltage is a mineral exploration company with a highly experienced team focused on the St. Laurent Project which covers 4,170 hectares and is located in St. Laurent Township, Northern Ontario, 160 kilometres northeast of Timmins, 50 kilometres south of Detour Lake Mine and 20 kilometres southwest of Casa Berardi Mine. Past shallow drilling at the St. Laurent Project identified disseminated multi-element sulphide mineralization across notable widths trending towards a large gabbro-hosted magnetic feature. The Ni-Cu-Co-Au-Pt-Pd zone is open along strike and at depth. This mineralized zone, importantly, is coincident with a strong 600-metre long EM anomaly. Drilling to date has not yet intersected massive sulphides, and the EM anomaly has not yet been explained. The disseminated sulphide halo provides an important vector to guide the upcoming future exploration work. Voltage is party to a purchase agreement (the \"Purchase Agreement\") dated June 20, 2020, as amended March 1, 2021, with Pancontinental Resources Corp. (\"Pancon\"), pursuant to which Voltage will be acquiring from Pancon a 100% interest in the St. Laurent Project, along with the Montcalm Project, the Nova Project and the Gambler Project, with the latter three projects being early-stage exploration projects located in the Montcalm Greenstone Belt, approximately 65 kilometres northwest of Timmins, Ontario. Pursuant to the terms of the Purchase Agreement, Voltage has two remaining payments to Panco...