Extract: "In summary, it is proposed that Bolnisi Gold NL (“Bolnisi”) will sell its wholly owned USA subsidiaries, Ocampo Resources, Inc and Ocampo Services, Inc which, at the time of such sale, will only own Planet Gold SA de CV, a Mexican corporation which holds Bolnisi’s interest in the Palmarejo Project (the “Acquisition”), to a Canadian company, Palmarejo Acquisition Corporation (“Palmarejo”). It is also proposed that in connection with this transaction Palmarejo will complete a financing of up to CDN$8,500,000 (the “Financing”), and, following the Acquisition and the Financing, it is proposed that Palmarejo will complete a business combination (the “Business Combination”) with Bonita Capital Corporation (“Bonita”), a Canadian capital pool company listed on the TSX Venture Exchange (the “Exchange”), such that the resulting company, which will indirectly hold Bolnisi’s interests in the Palmarejo Project, will be listed on the TSX Venture Exchange. After the completion of the Business Combination and the Financing (assuming a Financing of CDN$8,500,000 and assuming the completion of the proposed transaction) the TSX Venture Exchange-listed Canadian company will be owned approximately 82% by Bolnisi, 13% by subscribers under the Financing and 5% by current Bonita shareholders". +++++++++++++++++++++++++++++++++++
Very positive news IMHO. The TSX can do with a solid silver explorer/miner.
Gerry Readers, please do your own research and you decide if and when to buy, hold or sell any stocks. To visit archived posts, please use the Search button.
BSG Price at posting:
0.0¢ Sentiment: None Disclosure: Held
