Trading in shares of Bard Silver & Gold (VSE) remains halted pending the outcome of the company’s negotiations to acquire Stewart Blusson’s minority interest in the Point Lake joint venture in the Lac de Gras region of the Northwest Territories.
BHP-Utah Mines has the right to earn a 51% interest in the property from Dia Met Minerals (VSE), which would retain a 29% interest, and its minority partner, Stewart Blusson.
The negotiations include discussions whereby Blusson would acquire 262,500 escrowed shares of Bard at a price of 2 cents per share, and 917,0001 trading shares from no more than five principal shareholders.
If the negotiations are successful, the reverse takeover would be subject to the approval of the Vancouver Stock Exchange and Bard shareholders. It would also allow investors another investment vehicle in the Point Lake joint venture where a recent bulk sample revealed the presence of gem-quality diamonds.
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