Suche
 
Folgen Sie uns auf:

TONOGOLD Enters into a Definitive Share Purchase Agreement to Acquire Jag Minerals Pty Ltd

03.09.2024  |  Accesswire

Highlights

  • TONOGOLD enters in binding share purchase agreement to acquire 100% of the issued shares of JAG Minerals Pty Ltd which has a 100% interest in JAG Minerals USA Inc.

  • Acquisition includes 3 Projects located in West-Central USA known for historic production of uranium/vanadium.

  • On closing of the acquisition TONOGOLD will change its name to Uranium American Resources, Inc

WOODLAND HILLS, September 3, 2024 - Tonogold Resources Inc. (OTC PINK:TNGL) ("TONOGOLD" or the "Company" is pleased to inform shareholders that it has entered into a binding share purchase agreement to acquire 100% of the issued shares of JAG Minerals Pty Ltd which has a 100% interest in JAG Minerals USA Inc. ("JAG US").

This acquisition allows the Company to accelerate development and exploration of the Marysvale (hardrock uranium/vanadium mine), SKY Project (uranium roll front) and thirteen (13) historic high-grade vanadium/uranium mines in Montrose County, Colorado and San Juan County, Utah.

On closing of the acquisition TONOGOLD will change its name to Uranium American Resources, Inc.

Further details on these projects and the acquisition are set out in the Company's announcement dated April 10, 2024.

The total purchase price for the acquisition is US$8,500,000 made up of:

  • US$6,500,000 in the Company's shares at an issue price of $0.04/share (162,500,000 shares)(the "Acquisition Shares"); and

  • a further US$2,000,000 in cash will be paid to JAG shareholders at the date of closing.

The Acquisition Shares are being issued at a significant premium to the 10 day VWAP of the Company's shares at the date of this announcement

In order to close the acquisition the Company will now:

  • Complete the remaining US$500,000 convertible loan note ("NewNote") (terms as per the April 10 news release);

  • Restructure the existing TONOGOLD Note Holders to enable the Company to advance project funding; and

  • Raise up to US$6,000,000 in equity by placing shares to investors at the same price as the Acquisition Shares.

TONOGOLD CEO William Hunter stated: "Both the Company and JAG have worked diligently over the past 2 months to complete its due diligence and the binding Share Purchase Agreement.

We're looking forward to accelerating development of these projects and advancing on our short term production plan to create value for the Company's shareholders."

Enquiries

For further information, please contact:
William Hunter
Interim CEO Tonogold Resources Inc
M: +1 203 856 7285
E: bhunter@tonogold.com

SOURCE: Tonogold Resources, Inc.



View the original press release on accesswire.com


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Tonogold Resources Inc.
Bergbau
A119B0
US8903082084
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"