To acquire its interest Gold Torch paid $5 million to Bethlehem Resources Corp. (VSE) and Golden Nevada Resources (VSE). Bethlehem and Golden Nevada recently acquired the former producer from a division of Noranda.
Gold Torch President Douglas McRae said Prime Equities will arrange suitable financing for the company. McRae also announced that Murray Pezim, Art Clemiss, John Ivany and Lawence Page have joined the board of the company.
Through the assistance of Prime Resources, Gold Torch recently acquired a block of claims in the Eskay Creek area near the Calpine/Stikine discovery.
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