Radio Fuels & NV King Goldlands Announce Completion of Business Combination
Radio Fuels Energy Corp (CSE: CAKE) (OTCQB: CKEFF) has completed its business combination with NV King Goldlands through a plan of arrangement. The deal involved exchanging approximately 8.73 Radio Fuels shares for each NV King share, resulting in former NV King shareholders holding 40% of Radio Fuels shares. The combined entity now has about $20 million in cash and marketable securities. Through this merger, Radio Fuels maintains its Eco Ridge Project for uranium and rare earth elements while becoming Nevada's largest junior gold explorer by mineral tenure, ranking third overall behind Nevada Gold Mines and Kinross Gold Corp. The company also gained a 3% net smelter royalty on the Atlanta Gold Mine Project.
Radio Fuels Energy Corp (CSE: CAKE) (OTCQB: CKEFF) ha completato la sua fusione aziendale con NV King Goldlands attraverso un piano di accordo. L'affare ha comportato lo scambio di circa 8,73 azioni di Radio Fuels per ogni azione di NV King, con i precedenti azionisti di NV King che detengono ora il 40% delle azioni di Radio Fuels. L'entità combinata possiede ora circa 20 milioni di dollari in contante e titoli commerciabili. Attraverso questa fusione, Radio Fuels mantiene il suo Progetto Eco Ridge per l'uranio e gli elementi delle terre rare, diventando nel contempo il più grande esploratore di oro junior del Nevada per estensione mineraria, classificandosi terzo in assoluto dietro Nevada Gold Mines e Kinross Gold Corp. L'azienda ha anche acquisito una royalty netta del 3% sul progetto Atlanta Gold Mine.
Radio Fuels Energy Corp (CSE: CAKE) (OTCQB: CKEFF) ha completado su combinación empresarial con NV King Goldlands a través de un plan de acuerdo. El trato implicó el intercambio de aproximadamente 8.73 acciones de Radio Fuels por cada acción de NV King, resultando en que los antiguos accionistas de NV King poseen el 40% de las acciones de Radio Fuels. La entidad combinada ahora tiene alrededor de 20 millones de dólares en efectivo y valores negociables. A través de esta fusión, Radio Fuels mantiene su Proyecto Eco Ridge para uranio y elementos de tierras raras, mientras se convierte en el mayor explorador de oro junior de Nevada por tenencia mineral, ocupando el tercer lugar en general después de Nevada Gold Mines y Kinross Gold Corp. La compañía también obtuvo una regalía neta del 3% sobre el Proyecto Atlanta Gold Mine.
라디오 연료 에너지 공사 (CSE: CAKE) (OTCQB: CKEFF)는 NV 킹 골드랜드와의 사업 결합을 계획에 따라 완료했습니다. 이번 거래는 NV 킹의 주식 1주에 대해 약 8.73주 라디오 연료 주식을 교환하는 것으로, 이전 NV 킹 주주들이 라디오 연료 주식의 40%를 보유하게 되었습니다. 결합된 실체는 현재 약 2000만 달러의 현금 및 유가증권을 보유하고 있습니다. 이번 합병을 통해 라디오 연료는 우라늄과 희귀 광물에 대한 에코 리지 프로젝트를 유지하면서, 네바다의 광물 면허 기준으로 가장 큰 주니어 금 탐사 업체가 되었으며, 네바다 골드 마인과 킨로스 골드 공사에 이어 세 번째로 올라섰습니다. 또한, 회사는 애틀란타 금광 프로젝트에 대해 3%의 순 제련 로열티를 얻었습니다.
Radio Fuels Energy Corp (CSE: CAKE) (OTCQB: CKEFF) a terminé sa combinaison d'affaires avec NV King Goldlands par le biais d'un plan d'arrangement. L'accord a impliqué l'échange d'environ 8,73 actions de Radio Fuels pour chaque action de NV King, ce qui signifie que les anciens actionnaires de NV King détiennent désormais 40 % des actions de Radio Fuels. L'entité combinée dispose désormais d'environ 20 millions de dollars en espèces et en titres négociables. Grâce à cette fusion, Radio Fuels maintient son projet Eco Ridge pour l'uranium et les éléments des terres rares tout en devenant le plus grand explorateur d'or junior du Nevada en termes de droits miniers, se classant au troisième rang derrière Nevada Gold Mines et Kinross Gold Corp. L'entreprise a également obtenu une redevance nette de 3 % sur le projet Atlanta Gold Mine.
Radio Fuels Energy Corp (CSE: CAKE) (OTCQB: CKEFF) hat die Unternehmensfusion mit NV King Goldlands im Rahmen eines Arrangements abgeschlossen. Bei dem Deal wurden etwa 8,73 Aktien von Radio Fuels gegen jede Aktie von NV King getauscht, sodass die ehemaligen NV King-Aktionäre 40 % der Aktien von Radio Fuels halten. Die kombinierte Einheit verfügt nun über etwa 20 Millionen Dollar in bar und handelbaren Wertpapieren. Durch diese Fusion hält Radio Fuels sein Eco Ridge-Projekt für Uran und seltene Erden, während es zum größten Junior-Goldexplorer von Nevada nach Mineralbesitz wird und insgesamt den dritten Platz hinter Nevada Gold Mines und Kinross Gold Corp einnimmt. Das Unternehmen hat außerdem eine 3 %ige Netto-Schmelzlizenzgebühr für das Atlanta Gold Mine-Projekt erhalten.
- Acquisition makes Radio Fuels the largest junior gold explorer in Nevada by mineral tenure
- Strong balance sheet with $20 million in cash and marketable securities
- Gained 3% net smelter royalty on the Atlanta Gold Mine Project
- Portfolio diversification across uranium, rare earth elements, and gold
- 40% share dilution for existing Radio Fuels shareholders
Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - Radio Fuels Energy Corp. (CSE: CAKE) (OTCQB: CKEFF) (the "Company" or "Radio Fuels") and NV King Goldlands Inc. ("NV King") are pleased to announce the completion of their previously announced plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Radio Fuels has acquired all of the issued and outstanding shares of NV King (the "NV King Shares") at an exchange ratio of approximately 8.73 common shares of Radio Fuels (each, a "Radio Fuels Share") for each NV King Share. Immediately following completion of the Arrangement, former shareholders of NV King held
Highlights:
- Radio Fuels will continue to provide unparalleled leverage to uranium and rare earth elements through its
100% ownership of the Eco Ridge Project. - Radio Fuels has added significantly to its project portfolio, becoming the largest junior gold explorer in Nevada when measured by mineral tenure. The NV King property portfolio ranks as the third largest in Nevada behind just Nevada Gold Mines (Barrick/Newmont JV) and Kinross Gold Corp.
- Radio Fuels has attained exposure to the Atlanta Gold Mine Project, currently being advanced by Nevada King Gold Corp. (TSXV: NKG), through the
3% net smelter royalty held by NV King. - Shareholders of NV King will benefit from exposure to the Eco Ridge Project and reduced future share dilution.
- The combined entity has a strong balance sheet with approximately
$20 -million in cash and marketable securities.
No changes to the Company's board of directors have been made in connection with the Arrangement. Management of the Company will continue to be led by Radio Fuels current senior management team.
In the coming days, Radio Fuels intends to apply for NV King to cease to be a reporting issuer under applicable Canadian securities laws. All registered shareholders of NV King are encouraged to complete, sign and return the letter of transmittal, which has been previously mailed and is available under NV King's SEDAR+ profile on www.sedarplus.ca, with accompanying NV King share certificate(s) and/or DRS advice-statement(s) (if applicable) to Alliance Trust Company as soon as possible, if they have not already done so. Non-registered shareholders of NV King are encouraged to contact their broker or other intermediary for instructions and assistance in receiving the Radio Fuels Shares to which they are entitled.
For more information on the Arrangement, see NV King's management information circular dated October 8, 2024, filed under NV King's SEDAR+ profile on www.sedarplus.ca on October 16, 2024.
About Radio Fuels Energy Corp.
The Company is a junior natural resource company focused on providing exposure to uranium and other commodities through the investment, acquisition, exploration, and development of projects and companies. The company is also the third largest mineral claim holder in the State of Nevada, behind Nevada Gold Mines (Barrick/Newmont) and Kinross Gold Corp. Starting in 2016, NV King has staked large project areas hosting significant historical exploration work along the Battle Mountain trend located close to current or former producing gold mines.
For further information, please contact:
Philip O'Neill
Chief Executive Officer
Tel: (403) 614-2552
Email: phil@radiofuels.ca
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the proposed benefits of the Arrangement and the Company's future outlook. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Radio Fuels and NV King, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the failure of Radio Fuels to experience the benefits anticipated from the Arrangement.. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Radio Fuels and NV King do not assume any obligation to update these forward-looking statements should they change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230678
FAQ
What is the exchange ratio in the Radio Fuels (CKEFF) and NV King Goldlands merger?
How much cash and marketable securities does Radio Fuels (CKEFF) have after the merger?
What percentage of Radio Fuels (CKEFF) do former NV King shareholders own after the merger?
What royalty did Radio Fuels (CKEFF) acquire in the Atlanta Gold Mine Project?
