Equitas Resources to Acquire Alta Floresta Gold and Its Brazil Assets
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Equitas Resources Corp. has entered into a binding letter agreement dated effective January 6, 2016 to acquire all of the issued and outstanding securities of Alta Floresta Gold Ltd.
Alta Floresta Gold is a private British Columbia company which holds approximately 60 percent of Alta Floresta Gold Mineração Ltd. Alta Floresta Mineração holds six gold properties, and four production licenses, over 184,410 hectares of land in the Mato Grosso, and Para states of the Federative Republic of Brazil. Alta Floresta Mineração is focused on expanding the production activities and defining additional gold resources at its Cajueiro Project.
“In Alta Floresta Gold, we have identified an excellent opportunity that will allow us to leverage its current small scale, low cost, gold production into a much larger operation in the near future. By incorporating the highly skilled senior management team of Alta Floresta Gold into Equitas, we gain an experienced South American operating team that will advance the Cajueiro Project,” said Kyler Hardy, president and director of Equitas.
“Following closing of the transaction, Equitas will be a stronger company with quality gold and nickel assets as well as cash flow. This transaction is in line with our corporate strategy to acquire exceptional property holdings in highly prospective and proven districts. Equitas will also continue an aggressive exploration program on its highly prospective Garland nickel property in the Voisey’s Bay district in Labrador, Canada,” added Hardy.
“We are very pleased to finalize this letter agreement with Equitas. This transaction underlines the core value of the Alta Floresta portfolio and especially of our fast-track gold development target at Cajueiro which is already in production. With the depth of our combined management team, we stand poised to create strong value for shareholders as well as to bring employment and business to Brazil,” said Chris Harris, executive chairman & director of Alta Floresta Gold.
“We intend to build on our in-house portfolio development pipeline, by acquiring selected value accretive neighboring gold resources in Brazil to build a strong, cash flow generating gold junior with attractive growth prospects,” added Harris.
To read additional details, CLICK HERE
About Equitas Resources
Equitas Resources Corp. is focused on finding Canada’s next major nickel deposit. The corporate strategy is to acquire exceptional property holdings in highly prospective districts and follow through with aggressive exploration programs. This led to the assembly of several smaller property holdings to secure undivided ownership of the Garland Project, a large, continuous land package located near Voisey’s Bay, in Labrador, Canada. The Voisey’s Bay district is historically significant since the discovery of a major nickel deposit, and currently hosts the largest nickel mine in Canada. With a strong management team in place, excellent strategic partners, and the commitment to carry out aggressive and systematic exploration on high quality prospects, Equitas is primed to create shareholder value.
To stop by Equitas’ website, CLICK HERE
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