Wallbridge Mining and Balmoral Resources Enter Definitive Agreement to Merge
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Wallbridge Mining Company and Balmoral Resources have entered into a definitive agreement following the signing of a letter. Wallbridge will, among other things, acquire all of the issued and outstanding shares of Balmoral, in an all-stock transaction.
“This strategic transaction makes sense for the shareholders of both Wallbridge and Balmoral,” said Marz Kord, president, CEO, and director of Wallbridge.
“The combination of our two companies creates an entity with a solid balance sheet; a diverse yet focused project portfolio; a motivated management group experienced in exploration, development and production; and the scale, resource growth potential and discovery upside that gives us the opportunity to build on the strengths of both companies,” added Kord.
“The recent exploration success at Tabasco, Ripley, and throughout Area 51 speak to a large gold system which we are just beginning to unlock and which is combined in its entirety through this transaction. Today’s announcement creates one of best funded exploration companies in Canada which has enjoyed tremendous support from Mr. Eric Sprott and a solid shareholder base which includes gold producer Kirkland Lake Gold who operate along the Detour Gold Trend,” said Darin Wagner, president, CEO, and director of Balmoral.
About Wallbridge Mining Company Limited
Wallbridge is establishing a pipeline of projects that will support sustainable 100,000 ounce-plus annual gold production as well as organic growth through exploration and scalability.
The company is currently developing its 100 percent owned Fenelon Gold Property, which is located proximal to the Sunday Lake Deformation Zone, an emerging gold belt in northwestern Quebec with an ongoing 100,000 to 120,000 metre exploration drill program in 2020 and a 33,500-tonne bulk sample and 75,000 metres of drilling completed in 2019. Wallbridge is also pursuing additional advanced-stage projects which would add to the company’s near-term project pipeline. Wallbridge is also the operator of, and an 18 percent shareholder in, Loncan Canada Inc., a privately-held company with a large portfolio of nickel, copper, and PGM projects in Ontario’s Sudbury Basin.
To stop by Wallbridge Mining’s website, CLICK HERE
About Balmoral Resources Ltd.
Balmoral is a multi-award winning Canadian-focused exploration company actively exploring a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt. The company’s flagship, Detour Gold Trend Project hosts the resource-stage Bug and Martiniere West gold deposits and the Grasset nickel-copper-cobalt-PGE deposit. Employing a drill-focused exploration style in one of the world’s preeminent mining jurisdictions, Balmoral is following an established formula with a goal of maximizing shareholder value through the discovery and definition of high-grade, Canadian gold and base metal assets.
To stop by Balmoral Resources’ website, CLICK HERE
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