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Cassowary Capital Corporation Limited Executes Letter of Intent for Proposed Qualifying Transaction to Become Scotland Focused Gold Exploration Company
Cassowary Capital Corporation Limited Executes Letter of Intent for Proposed Qualifying Tr...
About this update from Western Gold Exploration Ltd.
[{"type":"text","content":"\n\n\n\nCassowary Capital Corporation Limited Executes Letter of Intent for Proposed Qualifying Transaction to Become Scotland Focused Gold Exploration Company\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, June 1, 2020\n\n\n\n/ NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA /\n CALGARY, June 1, 2020 /CNW/ - Cassowary Capital Corporation Limited (TSXV – BIRD.P) (\"BIRD\") is pleased to announce that it has entered into a binding letter of intent dated effective June 1, 2020 (\"LOI\") with Western Gold Exploration Limited (\"WGE\") to complete a business combination, whereby BIRD has agreed, subject to certain conditions, to acquire WGE (the \"Transaction\"). Upon completion of the Transaction, the combined entity (the \"Resulting Issuer\") will continue the business of WGE and initially will be engaged in the exploration and development of prospective mineral properties located in Scotland, with a focus on gold and copper exploration and development.\nThe Transaction is intended to constitute the Qualifying Transaction of BIRD, as such term is defined in Policy 2.4 of the TSX Venture Exchange (the \"Exchange\"), and will result in a reverse takeover of BIRD. \nAbout WGE\nWGE is a private company formed under the laws of England and Wales, that holds minerals rights in Argyll County in western Scotland, and which mineral rights include the Knapdale and Lagalochan projects. The mineral rights at Knapdale extend to base metal exploration rights over 3,253 hectares, with right to lease, and gold exploration rights over 1,574 hectares, with condit...