Eskay Mining and P2 Gold Agree to Terminate Business Combination and Continue Exploration Services Agreement
Eskay Mining and P2 Gold announced the termination of their previously agreed-upon business combination due to current market conditions. Initially, Eskay intended to acquire P2 Gold under a non-binding letter of intent dated June 4, 2024. Despite the cancellation, both companies will continue their collaboration through an exploration services agreement. This agreement involves P2 Gold planning and executing an exploration program on Eskay's Corey Property for the 2024 exploration season, with teams mobilizing to the site this week.
- Eskay and P2 Gold will continue their collaboration through an exploration services agreement.
- Exploration crews will mobilize to the Corey Property site this week for the 2024 exploration season.
- Termination of the business combination agreement due to market conditions.
Concurrently with the execution of the Letter Agreement, the Companies signed an exploration services agreement (the "Exploration Agreement") under which P2 agreed to plan and execute an exploration program on the Eskay-Corey Property for the 2024 exploration season. The Companies have agreed to continue with the Exploration Agreement and the mobilization of exploration crews to site this week
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in
All material information on Eskay may be found on its website at www.eskaymining.com and on SEDAR+ at www.sedarplus.com.
About P2 Gold Inc.
P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
In this news release, forward-looking statements relate to, among other things, statements regarding: the Exploration Agreement and the 2024 exploration program. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters.
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SOURCE P2 Gold Inc.
FAQ
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