Kirkland Lake Discoveries Corp. acquired All of the properties comprising Lucky Strike project located in the Kirkland Lake gold camp in Ontario from New Found Gold Corp. for approximability CAD 1.30 million.
The completion of the Transaction is subject to regulatory approval including an approval of the TSX Venture Exchange for the listing of Warrior Gold Shares to be issued in connection with the Transaction on the TSXV; the approval of Warrior Gold Shareholders of certain related matters in connection with the Transaction; the completion of the Private Placement and certain other conditions. Special meeting of Warrior Gold Shareholders to be held April 17, 2023. Transaction is expected to close no later than May 15, 2023. Irwin Lowy LLP acted as legal advisor to Warrior Gold Inc. (TSXV:WAR) and Blake, Cassels & Graydon LLP acted as legal advisor to New Found Gold Corp. (TSXV:NFG). As on April 17, 2023, at the special meeting of Shareholders, all resolutions were approved close to unanimously, including: (1) the approval of a name change; (2) the consolidation of the Common Shares on the basis of four pre-consolidation Common Shares for one post-consolidation Common Share; (3) the approval of NFG as a new control person of the Company; and (4) all four management nominees to the board of directors, to be appointed upon completion of the Acquisition. The resolutions will come into effect on closing of the Acquisition. As of May 15, 2023, acquisition is is expected to be on or about May 25, 2023.
Kirkland Lake Discoveries Corp. (TSXV:KLDC) completed the acquisition of acquire All of the properties comprising Lucky Strike project located in the Kirkland Lake gold camp in Ontario from New Found Gold Corp. (TSXV:NFG) for approximability CAD 1.30 million on May 25, 2023. As amended on May 8, 2023 Kirkland Lake Discoveries Corp. (TSXV:KLDC) acquired the Lucky Strike Property by issuing to NFG 28,612,500 common shares and granting to New Found Gold Corp. (TSXV:NFG). Kirkland Lake Discoveries Corp board of directors was reconstituted in conjunction with the completion of the Transaction and now consists of four directors Denis Laviolette, Danièle Spethmann, Gary Nassif, and Stephen Burleton. Two additional directors may be nominated by NFG later.