Serengeti”) and Sun Metals Corp. (TSX-V: SUNM) (“
Sun Metals”) are pleased to announce that Sun Metals has obtained the final order from the Supreme Court of British Columbia with respect to the previously announced proposed plan of arrangement, pursuant to which Serengeti will acquire all of the issued and outstanding shares of Sun Metals, on the basis of 0.215 of a post-Consolidation (as defined below) Serengeti share for each Sun Metals share, which is 0.43 of a pre-Consolidation Serengeti share for each Sun Metals share on a pre-Consolidation basis (the “Transaction”).
The Transaction was approved by Serengeti shareholders and Sun Metals securityholders at their respective meetings on February 26, 2021 and subject to receipt of all requisite approvals, including final TSX Venture Exchange approval, and waiver or satisfaction of all relevant conditions, closing of the Transaction is expected to be on or about March 5, 2021.
Serengeti and Sun Metals Announce Final Order
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Serengeti Resources : Drills 212 Metres of 0 40% Cu, 0 08 gt Au Including 79 Metres of 0 54% Cu, 0 14 gt Au Expanding Central Zone
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Serengeti Drills 698 Metres of 0 40% Cu, 0 65 g/t Au (0 80% CuEq) Including 124 Metres of 0 70% Cu, 2 10 g/t Au (1 96% CuEq) in Infill Hole at Kwanika
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Pacific Ridge Exploration Ltd.: Pacific Ridge Announces Redton Drill Results and Provides Exploration Update
Vancouver, British Columbia (Newsfile Corp. - December 11, 2020) - Pacific Ridge Exploration Ltd. (TSXV: PEX) ( Pacific Ridge or the Company ) reports on results of a single diamond drill hole, RTN-20-01, located 2.5km north of the Kwanika Central Zone at the road accessible Redton North target. The drill hole tested a 550 m by 250 m magnetic and IP chargeability anomaly and coincident copper-molybdenum soil anomaly located 2.5 km north of Serengeti Resources Inc. s ( Serengeti ) Kwanika Central Zone deposit
1. The drill hole encountered a magnetite-bearing mafic intrusive with a minor amount of quartz, potassium feldspar, chlorite, calcite, gypsum and epidote veining, moderate to strong chlorite alteration and local serpentinization. No significant copper or gold assays were encountered. The ubiquitous presence of magnetite as well as strong magnetic susceptibility value