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Wangton Capital Corp. Announces Letter of Intent to Acquire Balkan Minerals Subsidiary, TAOR D.O.O.
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2017) - Wangton Capital Corp. (TSX...
About this update from Wangton Capital Corp.
[{"type":"text","content":"Wangton Capital Corp. Announces Letter of Intent to Acquire Balkan Minerals Subsidiary, TAOR D.O.O.Taor Holds Two Geological Exploration Licenses in SerbiaVancouver, British Columbia--(Newsfile Corp. - September 5, 2017) - Wangton Capital Corp. (TSXV: WT.H) (\"Wangton\" or the \"Company\") is pleased to announce that it has entered into a letter of intent dated September 1, 2017 with Balkan Minerals Limited (\"Balkan\") and its sole beneficial shareholder, Dr. Radomir Vukcevic, with respect to the proposed acquisition by Wangton (the \"Transaction\") of all the shares of Balkan's wholly-owned subsidiary TAOR d.o.o, (\"TAOR\"), a Serbian company.Under the terms of the Transaction, Wangton will acquire all of the issued and outstanding shares of TAOR (the \"TAOR Shares\"). The aggregate consideration for the TAOR Shares will be 8,000,000 common shares of Wangton (\"Common Shares\") issued on closing and up to an additional 17,000,000 Common Shares on meeting certain milestones. Completion of the Transaction is subject to a number of conditions, including, but not limited to satisfactory due diligence and execution of a definitive agreement. There can be no assurance that the Transaction will be completed as proposed or at all. About Balkan Minerals Limited and TAOR d.o.o.Balkan's wholly owned subsidiary, TAOR, holds two geological exploration licenses from the Ministry of Mining and Energy of the Republic of Serbia. The two exploration Properties cover approximately 100 square kilometres and are located in the vicinity of the historical mining area of Raska, (the \"Properties\"). Both properties are supported by power, water, railway, roads and have access to a skilled workforce.Dr.Vukcevic, Balkan's beneficial owner, has a distinguished 35-year career in creating and developing engineering, technical and equipment solutions for the international mining industry. He holds a PhD in metallurgy from the Technical University of Clausthal, Germany, and a bachelor and master's degree in metallurgy; and, has many industrial patents for mining-related technologies. Dr. Vukcevic has taught metallurgy at a number of universities where he was associate professor and professor at RMIT University in Melbourne, Witwatersrand University in Johannesburg and the University of Western Australia in Perth. Dr. Vukcevic's work history is diverse, as i...