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Gatling Exploration Inc. has successfully completed its Plan of Arrangement with MAG Silver Corp., where MAG acquires all Gatling common shares at a rate of 0.0170627 MAG shares per Gatling share. This Arrangement was first announced on March 11, 2022. Following this completion, Gatling's shares will be delisted from the TSX Venture Exchange on May 24, 2022, and the company will cease being a reporting issuer under Canadian securities laws. For more information, shareholders may contact Computershare Investor Services.
Gatling Exploration Inc. (OTCQB:GATGF) announced the results of its special meeting held on May 13, 2022, where Securityholders approved the Arrangement Resolution for the acquisition by MAG Silver Corp. Under the Arrangement, MAG will acquire Gatling by exchanging 0.0170627 MAG shares for each Gatling share. The approval met requirements of 66⅔% from Securityholders and will seek a final order from the Supreme Court of British Columbia on May 17, 2022, with completion expected around May 19, 2022.
Gatling Exploration Inc. (GATGF) has mailed its management information circular for a special meeting concerning a proposed Plan of Arrangement with MAG Silver Corp.. The Board unanimously recommends that securityholders vote in favor of the arrangement, which offers a preferential exchange rate of 0.0170627 of a MAG share for each Gatling share, equating to a 49.1% premium. The deal is expected to enhance liquidity and broaden the shareholder base, integrating high-quality assets like the Larder Gold Project and the Juanicipio Silver Project. The meeting is scheduled for May 13, 2022.
Gatling Exploration Inc. has announced an arrangement agreement with MAG Silver Corp. for an all-share acquisition, whereby Gatling shareholders will receive 0.0170627 shares of MAG for each Gatling share. This transaction offers a 49.1% premium over Gatling's last closing price and is expected to close by late May 2022, pending approvals. Additionally, MAG will provide a $3 million bridge loan to support Gatling during this transition. The deal is backed by significant shareholder support, aiming to enhance liquidity and value for Gatling's investors.
Gatling Exploration has announced the successful completion of its Phase II drilling program at the Kir Vit prospect, totaling 5,330 meters. Key highlights include 1.4 g/t Au over 26.0 m and 4.9 g/t Au over 4.0 m. Three distinct mineralization styles have been identified, indicating the presence of a significant gold system. The company plans to continue expanding these findings with a Phase III exploration program in 2022, targeting the promising conglomerate trend along with other mineralization styles.
Gatling Exploration has reported significant new gold intersections at its Larder Gold Project, extending its 2021 Mineral Resource Estimate (MRE). Highlights include 9.4 g/t Au over 4.0 m in the Bear North zone and 14.7 g/t Au over 1.5 m in the newly tested Bear East zone. The recent drilling campaign, totaling 25,000 meters, has successfully expanded mineralized zones along strike and depth, with further exploration planned for the Bear East and Swansea zones. The company has cancelled a previously announced private placement.
Gatling Exploration Inc. has announced a private placement to raise up to $2,500,000. The offering includes 5,882,352 flow-through shares priced at $0.34 each and 1,562,500 units priced at $0.32 each. Each unit combines a common share and a share purchase warrant that can be exercised at $0.50 for two years. Proceeds will fund Canadian exploration expenses and will qualify for tax benefits. The offering is subject to TSX Venture Exchange approval and a four-month hold period applies.
Gatling Exploration has reported a new global mineral resource estimate for its Larder Gold Project in Ontario, revealing 388,000 ounces of gold in the Indicated category and 933,000 ounces in the Inferred category. The estimate incorporates data from over 295,000 meters of drilling, including historical and new drilling completed between 2019 and 2021. The results highlight significant potential for further resource growth. Gatling plans to continue exploration efforts through Q4 2021 and into 2022, with a focus on expanding the resource at its key deposits.
Gatling Exploration Inc. (OTCQB:GATGF) announced promising preliminary results from metallurgical tests at its 100% owned Larder Gold Project in Ontario. Initial recoveries ranged from 81% to 92% across three deposits, with the Bear deposit achieving the highest recovery of 91.9%. The tests involved three composite samples, revealing potential for further optimization. Despite lower-than-expected results from the Cheminis deposit, Gatling plans additional tests to improve extractions towards historical benchmarks of 94%.
Gatling Exploration (GATGF) reports significant drilling results at the Larder Gold project, enhancing mineral resource estimates. Key highlights include:
- Drillhole GTR-21-132 returned 7.7 g/t Au over 17.0 m, extending the Bear deposit's high-grade core.
- Completion of a successful 13,500 m drill campaign at the Fernland deposit, contributing to upcoming resource estimates.
- Gatling's extensive drilling database supports both open pit and underground resource potential.
Upcoming resource updates are expected in Q3 2021.
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