Junior Canadian Golden Dragon (VSE) will acquire 200,000 shares of Glimmer Resources (VSE) priced at $1 per share.
The funds raised will be added to Glimmer’s working capital and fund a preliminary feasibility study at the Hislop Twp. gold property, east of Matheson, Ont. The property contains more than 1.4 million tons averaging 0.29 oz. gold per ton, some of which may be accessible by open-pit methods.
Glimmer is contemplating additional sources and methods of financing necessary to develop the deposit.
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