Chrysos Capital Corporation's Qualifying Transaction approved by TSX Venture
Exchange
/NOT FOR DISTRIBUTION TO
Trading Symbol: TSX-V: CSZ.P
The TSX Venture Exchange has approved Chrysos previously announced Qualifying Transaction subject to a number of pre-closing and post closing conditions. The closing date of Chrysos's Qualifying Transaction and concurrent financing are expected to be completed on or before
Trading of the common shares of Chrysos was halted at Chrysos's request when it announced its proposed Qualifying Transaction on
Pursuant to the Qualifying Transaction Chrysos will acquire from Merrex Gold Inc. ("Merrex") (TSX-V symbol MXI) the following assets (the "Merrex Assets"):
(a) a 50% interest in 328 claims in Nova Scotia, which include the Jubilee Zinc-Lead Project in Victoria County, Nova Scotia (the "Jubilee Claims"), and two ancillary properties, the Cape Breton Regional Zinc Claims and the Eastville Permits; (b) a 100% interest in 229 claims in the Red Lake- Birch Lake District, Northwestern Ontario; and (c) Merrex's exclusive strategic alliance with AgeanGold Madencilik Ltd., a 90% interest in Merrex Insaat Madencilik Sanayi Tasimacilik ve Ticaret Ltd. Sti. which holds twelve early-stage exploration permits.
Chrysos will issue 18,675,000 common shares at
Chrysos has concluded a purchase agreement with Société Touba Mining SARL ("Touba"). In accordance with that agreement, Chrysos will acquire all rights, title and interests held by Touba in the Niaouleni Permits, which consist of two contiguous exploration permits in
Pursuant to TSX Listings Policy 2.4, the arm's length purchase of the Jubiliee Claims will be Chrysos's qualifying transaction (the "Qualifying Transaction").
On
If the maximum amount of flow-through shares are subscribed for the minimum and maximum financing would be:
------------------------------------------------------------------------- Minimum $2,100,000 Maximum $3,100,000 Financing Financing ------------------------------------------------------------------------- Flow-Through Shares @ $0.19 2,631,579 shares $500,000 2,631,579 shares $500,000 ------------------------------------------------------------------------- Units @ $0.17 9,411,765 shares $1,600,000 15,294,118 shares $2,600,000 ------------------------------------------------------------------------- Totals 12,043,344 shares $2,100,000 17,925,697 shares $3,100,000 -------------------------------------------------------------------------
This press release was prepared under the supervision of Peter C. Webster, P. Geo.,
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, further due diligence, and Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
Investor are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Chrysos should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
%SEDAR: 00027741E
For further information: Thomas J. Hickey, President, Chrysos Capital Corporation, (902) 456-2568, F: (902) 446-2001
Share this article