TONOGOLD Enters into a Definitive Share Purchase Agreement to Acquire Jag Minerals Pty Ltd
TONOGOLD Resources Inc. (OTC PINK:TNGL) has entered a binding share purchase agreement to acquire 100% of JAG Minerals Pty , which owns JAG Minerals USA Inc. The acquisition includes three uranium/vanadium projects in West-Central USA. The total purchase price is $8.5 million, comprising $6.5 million in TONOGOLD shares at $0.04/share and $2 million in cash. To close the deal, TONOGOLD will complete a $500,000 convertible loan note, restructure existing note holders, and raise up to $6 million in equity. Post-acquisition, TONOGOLD will change its name to Uranium American Resources, Inc. The deal aims to accelerate development of the Marysvale, SKY Project, and thirteen historic high-grade vanadium/uranium mines in Colorado and Utah.
TONOGOLD Resources Inc. (OTC PINK:TNGL) ha stipulato un accordo vincolante per l'acquisto di azioni per acquisire il 100% di JAG Minerals Pty, che possiede JAG Minerals USA Inc. L'acquisizione include tre progetti di uranio/vanadio nel centro-ovest degli Stati Uniti. Il prezzo totale di acquisto è di 8,5 milioni di dollari, di cui 6,5 milioni in azioni di TONOGOLD a 0,04 dollari per azione e 2 milioni in contante. Per concludere l'affare, TONOGOLD dovrà completare una nota di prestito convertibile da 500.000 dollari, ristrutturare i possessori di note esistenti e raccogliere fino a 6 milioni di dollari in capitale. Dopo l'acquisizione, TONOGOLD cambierà nome in Uranium American Resources, Inc. L'accordo mira ad accelerare lo sviluppo del Marysvale, del Progetto SKY e di tredici storiche miniere di vanadio/uranio ad alto grado in Colorado e Utah.
TONOGOLD Resources Inc. (OTC PINK:TNGL) ha firmado un acuerdo vinculante de compra de acciones para adquirir el 100% de JAG Minerals Pty, que posee JAG Minerals USA Inc. La adquisición incluye tres proyectos de uranio/vanadio en el centro-oeste de EE. UU. El precio total de compra es de 8,5 millones de dólares, que se compone de 6,5 millones en acciones de TONOGOLD a 0,04 dólares por acción y 2 millones en efectivo. Para cerrar el trato, TONOGOLD completará una nota de préstamo convertible de 500.000 dólares, reestructurará a los tenedores de notas existentes y recaudará hasta 6 millones de dólares en capital. Después de la adquisición, TONOGOLD cambiará su nombre a Uranium American Resources, Inc. El acuerdo tiene como objetivo acelerar el desarrollo de Marysvale, el Proyecto SKY y trece históricas minas de vanadio/uranio de alta ley en Colorado y Utah.
TONOGOLD Resources Inc. (OTC PINK:TNGL)는 JAG Minerals Pty의 100%를 인수하기 위한 구속력 있는 주식 매매 계약을 체결했습니다. JAG Minerals Pty는 JAG Minerals USA Inc.를 보유하고 있습니다. 이번 인수에는 미국 중서부에 위치한 세 개의 우라늄/바나듐 프로젝트가 포함됩니다. 총 구매 가격은 850만 달러로, 6.5백만 달러는 주당 0.04달러의 TONOGOLD 주식으로, 200만 달러는 현금으로 구성됩니다. 거래를 완료하기 위해 TONOGOLD는 500,000달러의 전환 가능한 대출 노트를 완성하고 기존 노트 보유자들을 재구성하며 최대 600만 달러의 자본을 모금할 것입니다. 인수 후, TONOGOLD는 Uranium American Resources, Inc로 이름을 변경할 것입니다. 이번 거래는 Marysvale, SKY 프로젝트 및 콜로라도와 유타의 열세 개의 역사적인 고품질 바나듐/우라늄 광산 개발을 가속화하는 것을 목표로 합니다.
TONOGOLD Resources Inc. (OTC PINK:TNGL) a conclu un contrat d'achat d'actions contraignant pour acquérir 100 % de JAG Minerals Pty, qui possède JAG Minerals USA Inc. L'acquisition comprend trois projets d'uranium/vanadium dans le centre-ouest des États-Unis. Le prix total d'achat est de 8,5 millions de dollars, dont 6,5 millions en actions de TONOGOLD à 0,04 dollar par action et 2 millions en espèces. Pour finaliser l'accord, TONOGOLD devra compléter une note de prêt convertible de 500 000 dollars, restructurer les détenteurs de notes existants et lever jusqu'à 6 millions de dollars en capitaux propres. Après l'acquisition, TONOGOLD changera de nom pour devenir Uranium American Resources, Inc. L'accord vise à accélérer le développement de Marysvale, du projet SKY et de treize anciennes mines d'uranium/vanadium de haute qualité dans le Colorado et l'Utah.
TONOGOLD Resources Inc. (OTC PINK:TNGL) hat eine bindende Aktienkaufvereinbarung zur Übernahme von 100% der JAG Minerals Pty unterzeichnet, die die JAG Minerals USA Inc. besitzt. Die Übernahme beinhaltet drei Uran-/Vanadiumprojekte im Mittleren Westen der USA. Der gesamte Kaufpreis beträgt 8,5 Millionen Dollar, davon 6,5 Millionen in TONOGOLD-Aktien zu 0,04 Dollar pro Aktie und 2 Millionen in bar. Um den Deal abzuschließen, wird TONOGOLD einen umwandelbaren Darlehen von 500.000 Dollar abschließen, bestehende Note-Inhaber umstrukturieren und bis zu 6 Millionen Dollar Eigenkapital beschaffen. Nach der Übernahme wird TONOGOLD seinen Namen in Uranium American Resources, Inc ändern. Der Deal zielt darauf ab, die Entwicklung des Marysvale, des SKY-Projekts und dreizehn historischer hochgradiger Vanadium/Uran-Minen in Colorado und Utah zu beschleunigen.
- Acquisition of three uranium/vanadium projects in West-Central USA
- Total purchase price of $8.5 million, with $6.5 million paid in shares at a premium to current market price
- Potential for accelerated development and exploration of uranium/vanadium mines
- Plans to raise up to $6 million in equity at the same price as the acquisition shares
- Need to complete a $500,000 convertible loan note
- Requirement to restructure existing note holders
- $2 million cash payment required at closing
- Significant share dilution with issuance of 162,500,000 new shares
Highlights
TONOGOLD enters in binding share purchase agreement to acquire
100% of the issued shares of JAG Minerals Pty Ltd which has a100% interest in JAG Minerals USA Inc.Acquisition includes 3 Projects located in West-Central USA known for historic production of uranium/vanadium.
On closing of the acquisition TONOGOLD will change its name to Uranium American Resources, Inc
WOODLAND HILLS, CA / ACCESSWIRE / September 3, 2024 / TONOGOLD Resources Inc. (OTC PINK:TNGL) ("TONOGOLD" or the "Company" is pleased to inform shareholders that it has entered into a binding share purchase agreement to acquire
This acquisition allows the Company to accelerate development and exploration of the Marysvale (hardrock uranium/vanadium mine), SKY Project (uranium roll front) and thirteen (13) historic high-grade vanadium/uranium mines in Montrose County, Colorado and San Juan County, Utah.
On closing of the acquisition TONOGOLD will change its name to Uranium American Resources, Inc.
Further details on these projects and the acquisition are set out in the Company's announcement dated April 10, 2024.
The total purchase price for the acquisition is US
US
$6,500,000 in the Company's shares at an issue price of$0.04 /share (162,500,000 shares)(the "Acquisition Shares"); anda further US
$2,000,000 in cash will be paid to JAG shareholders at the date of closing.
The Acquisition Shares are being issued at a significant premium to the 10 day VWAP of the Company's shares at the date of this announcement
In order to close the acquisition the Company will now:
Complete the remaining US
$500,000 convertible loan note ("NewNote") (terms as per the April 10 news release);Restructure the existing TONOGOLD Note Holders to enable the Company to advance project funding; and
Raise up to US
$6,000,000 in equity by placing shares to investors at the same price as the Acquisition Shares.
TONOGOLD CEO William Hunter stated: "Both the Company and JAG have worked diligently over the past 2 months to complete its due diligence and the binding Share Purchase Agreement.
We're looking forward to accelerating development of these projects and advancing on our short term production plan to create value for the Company's shareholders."
Enquiries
For further information, please contact:
William Hunter
Interim CEO Tonogold Resources Inc
M: +1 203 856 7285
E: bhunter@tonogold.com
SOURCE: Tonogold Resources, Inc.
View the original press release on accesswire.com
FAQ
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