Canadian company Bullet Exploration (TSX-V:AMMO) has pulled the trigger on a definitive amalgamation agreement for Gold79 Mines (TSX-V:AUU) to acquire the company.
The transaction is by way of a three-cornered amalgamation whereby Gold79, through a wholly owned subsidiary, will amalgamate with Bullet forming Amalco, which will become a subsidiary of Gold79. Bullet will then be delisted from the TSX Venture Exchange.
Bullet says the transaction will create a well-funded gold exploration company focused on the southwest US.
The combined entity will focus on delivering a maiden resource at Gold79’s Gold Chain project in Arizona; exploring Bullet’s Jefferson North Gold-Silver project in Nevada to define its scale potential; and get work with Kinross to get the maiden drill program at Jefferson underway.
Bullet President and CEO Ehsan Agahi says the merger is a transformative step for the company, offering immediate…
