MacDonald Mines Announces Letter of Intent with Canuc Resources Corporation
MacDonald Mines Exploration has signed a non-binding letter of intent (LOI) with Canuc Resources for the acquisition of all MacDonald Mines' outstanding shares. Under the LOI terms, Canuc will issue 72,000,000 common shares to MacDonald Mines shareholders, valued at approximately $3,365,400. The LOI remains effective until April 30, 2025. The transaction completion depends on several conditions, including a definitive agreement, shareholder and regulatory approvals, and successful due diligence. Upon completion, MacDonald Mines' shares will be delisted from TSX Venture Exchange, with shareholders becoming Canuc shareholders.
MacDonald Mines Exploration ha firmato una lettera d'intenti non vincolante (LOI) con Canuc Resources per l'acquisizione di tutte le azioni in circolazione di MacDonald Mines. Secondo i termini della LOI, Canuc emetterà 72.000.000 di azioni comuni agli azionisti di MacDonald Mines, del valore di circa $3.365.400. La LOI rimarrà valida fino al 30 aprile 2025. Il completamento della transazione dipende da diverse condizioni, inclusi un accordo definitivo, approvazioni da parte degli azionisti e delle autorità di regolamentazione, e un'adeguata due diligence. Una volta completato, le azioni di MacDonald Mines saranno rimosse dalla Borsa TSX Venture, con gli azionisti che diventeranno azionisti di Canuc.
MacDonald Mines Exploration ha firmado una carta de intención no vinculante (LOI) con Canuc Resources para la adquisición de todas las acciones en circulación de MacDonald Mines. Según los términos de la LOI, Canuc emitirá 72,000,000 de acciones comunes a los accionistas de MacDonald Mines, valoradas en aproximadamente $3,365,400. La LOI permanecerá vigente hasta el 30 de abril de 2025. La finalización de la transacción depende de varias condiciones, incluidas un acuerdo definitivo, aprobaciones de los accionistas y reguladoras, y la debida diligencia exitosa. Al completarse, las acciones de MacDonald Mines serán excluidas de la Bolsa de Valores TSX Venture, y los accionistas se convertirán en accionistas de Canuc.
맥도날드 마인스 탐사는 카눅 리소스와 모든 발행 주식의 인수를 위한 비구속 의향서(LOI)에 서명했습니다. LOI 조건에 따라, 카눅은 맥도날드 마인스 주주에게 약 3,365,400 달러에 해당되는 72,000,000 주의 보통주를 발행할 것입니다. LOI는 2025년 4월 30일까지 유효합니다. 거래 완료는 최종 계약, 주주 및 규제 승인, 성공적인 실사 등의 여러 조건에 따라 이루어집니다. 거래가 완료되면 맥도날드 마인스의 주식은 TSX 벤처 거래소에서 상장 폐지되며, 주주들은 카눅의 주주가 됩니다.
MacDonald Mines Exploration a signé une lettre d'intention non contraignante (LOI) avec Canuc Resources pour l'acquisition de toutes les actions en circulation de MacDonald Mines. Selon les termes de la LOI, Canuc émettra 72 000 000 d'actions ordinaires aux actionnaires de MacDonald Mines, évaluées à environ 3 365 400 $. La LOI reste valide jusqu'au 30 avril 2025. La réalisation de la transaction dépend de plusieurs conditions, notamment d'un accord définitif, des approbations des actionnaires et des régulateurs, ainsi que d'une due diligence réussie. Une fois la transaction terminée, les actions de MacDonald Mines seront retirées de la Bourse TSX Venture, et les actionnaires deviendront des actionnaires de Canuc.
MacDonald Mines Exploration hat ein unverbindliches Absichtsschreiben (LOI) mit Canuc Resources über den Erwerb aller ausgegebene Aktien von MacDonald Mines unterzeichnet. Laut den Bedingungen des LOI wird Canuc 72.000.000 Stammaktien an die Aktionäre von MacDonald Mines ausgeben, die etwa 3.365.400 US-Dollar wert sind. Das LOI bleibt bis zum 30. April 2025 gültig. Der Abschluss der Transaktion hängt von mehreren Bedingungen ab, einschließlich einer endgültigen Vereinbarung, Genehmigungen der Aktionäre und der Aufsichtsbehörden sowie einer erfolgreichen Due Diligence. Nach Abschluss werden die Aktien von MacDonald Mines von der TSX Venture Exchange gestrichen, und die Aktionäre werden zu Aktionären von Canuc.
- Shareholders to receive Canuc shares valued at $3,365,400
- Company shares will be delisted from TSX Venture Exchange
- Transaction completion is subject to multiple conditions and approvals
- LOI is non-binding, offering no guarantee of deal completion
TORONTO, ON / ACCESSWIRE / December 3, 2024 / MacDonald Mines Exploration Ltd. (TSXV:BMK)(OTC PINK:MCDMF) ("MacDonald Mines" or the "Company") is pleased to announce that it has signed a non-binding letter of intent (the "LOI") with Canuc Resources Corporation ("Canuc"; TSX-V: CDA, OTCQB: CNUCF), whereby Canuc will acquire all of the issued and outstanding shares of MacDonald Mines.
The LOI
Under the terms of the LOI, Canuc will issue 72,000,000 common shares ("Canuc Shares") to the shareholders of MacDonald Mines as consideration, representing approximately
Canuc is at arm's length to MacDonald Mines. Further information about Canuc can be found under its SEDAR+ profile online at www.sedarplus.com.
Completion of the proposed acquisition is conditional upon, among other things, formalization of the transaction by way of a definitive agreement, the receipt of all necessary shareholder and regulatory approvals by MacDonald Mines and Canuc (including the approval of the TSX Venture Exchange), and the satisfactory completion by Canuc of its due diligence investigations on the Company and its assets.
If completed, the Company's shares will be delisted from the trading on the TSX Venture Exchange, and the Company's shareholders will continue as shareholders of Canuc.
There can be no assurances nor guarantees that the proposed transaction will be completed as described above or at all. The Company will provide further updates as they become available.
About MacDonald Mines Exploration Ltd.
MacDonald Mines is a Canadian exploration company focused on exploring for critical and precious metals in a Metasomatic Iron alkali-calcic (MIAC) mineral system on its
ON BEHALF OF THE BOARD
"Mike England"
Mike England, Interim CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1 604 683 3995, Toll Free: 1 888 945 4770
Email: mike@engcom.ca
Forward-Looking Statements
This news release may contain certain "forward-looking statements", including with respect to the proposed Canuc acquisition and the private placement financing. Forward-looking statements involve known and unknown risks (including but not limited to risks that the proposed acquisition and private placement financing do not proceed, or proceed on expected terms), uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. There can be no assurance that any forward-looking statement will prove to be accurate or that management's assumptions underlying such statements, including assumptions regarding the proposed Canuc acquisition or private placement financing, will materialize. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: MacDonald Mines Exploration Ltd.
View the original press release on accesswire.com
FAQ
What is the value of Canuc's share offering for MacDonald Mines (MCDMF) acquisition?
When does the Letter of Intent (LOI) between MacDonald Mines (MCDMF) and Canuc expire?
What happens to MacDonald Mines (MCDMF) shares after the Canuc acquisition?
