Alberta-listed Redbird Gold has entered option agreements to acquire properties in northwestern Ontario.
One of these is near Sturgeon Lake, about 200 km northwest of Thunder Bay, and the other is close to Melchett Lake, 100 km north of Geraldton.
The company is acquiring the properties from related parties and can earn a 67% interest in each property. To finance the acquisition, the company plans a private placement of 8 million shares at 13 cents per share.
The company also announced a 1-for-5 consolidation of its common shares, to include the 8 million shares in the placement. The acquisitions, placement, and share consolidation are all subject to the approval of shareholders, who will vote on the matter on Jan. 26, 1996. Alberta regulators must approve the share issue.
Be the first to comment on "Redbird options Ontario properties"