No idea, but at least something is happening!Fusion Gold Ltd....

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    No idea, but at least something is happening!

    Fusion Gold Ltd. Announces Binding Letter Agreement with Battery Mineral Resources Limited for Proposed Qualifying TransactionVancouver, British Columbia--(Newsfile Corp. - September 3, 2019) - Fusion Gold Ltd. (TSXV: FML.P) ("Fusion" or the "Company"), is pleased to announce that it has entered into a binding letter agreement, dated August 30, 2019 (the "Letter Agreement"), with Battery Mineral Resources Limited. ("Battery"), which sets out the principal terms upon which Fusion will acquire all of the issued and outstanding securities of Battery (together with the related transactions and corporate procedures set out in the Letter Agreement, the "Transaction"). Fusion, after giving effect to the completion of the Transaction, is referred to in this News Release as the "Resulting Issuer".Fusion is a "capital pool company" that completed its initial public offering in September 2018. The common shares of Fusion (the "Fusion Shares") are listed for trading on the TSX Venture Exchange (the "TSXV" or the "Exchange") under the stock symbol "FML.P". It is intended that the Transaction, when completed, will constitute the "qualifying transaction" of Fusion for the purposes of Policy 2.4 - Capital Pool Companies of the TSXV.On closing of the Transaction, Fusion will change its name to "Battery Mineral Resources Inc." or such other similar name as Battery may direct and which is acceptable to the Exchange and other applicable regulatory authorities.From and upon completion of the Transaction, the Resulting Issuer will carry on the mineral exploration business conducted by Battery, and the common shares of the Resulting Issuer (the "Resulting Issuer Shares") will be listed under the trading symbol "BMR". Fusion and Battery anticipate that, on closing of the Transaction, the Resulting Issuer will meet the TSXV's initial listing requirements for a Tier 1 or Tier 2 mining issuer. The Letter Agreement was negotiated at arm's length and is dated August 30, 2019. The terms and conditions outlined in the Letter Agreement are binding on the parties, and the Letter Agreement is expected to be superseded by a definitive agreement (the "Definitive Agreement") to be negotiated between Fusion and Battery and entered into on or before September 30, 2019.About BatteryBattery was incorporated on June 14, 2016 under the Corporations Act 2001 (Cth) Australia (the "Corporations Act (Australia)"). Battery's principal business focus is the exploration and development of cobalt prospects in Canada, as well as other minerals critical to the lithium-ion battery market and energy storage sector. Battery's business activity since incorporation has been the acquisition and consolidation of underexplored cobalt, lithium and graphite mineral properties.Battery's principal property is its Cobalt District Project, a significant aggregation of mineral exploration rights in Ontario and Quebéc comprising multiple target areas, with Battery's focus being on the McAra and Gowganda prospects in Ontario, and the Fabré prospect in Quebéc. The McAra target area is Battery's most advanced target to date with more than 6,000 metres of completed drilling in 2017-2018, and an additional 21 drillholes for 4,398 metres completed during 2019. With historical exploration in the district having been primarily focused on silver, Battery believes the Cobalt District Project is underexplored for cobalt. Battery intends to continue exploration and drilling activities at identified cobalt occurrences throughout the project area with the goal of defining additional mineral resources.A technical report in respect of the Cobalt District Project will be filed in connection with the Transaction, which will include 2019 drilling results, and an update of the mineral resource estimate for the McAra prospect.
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