Archer is a nickel-copper-PGE focused explorer with the aim of becoming a responsible nickel sulphide developer in Eastern Canada. The newly acquired Grasset project, located within the Abitibi greenstone belt approximately 55 km of Matagami, Quebec, would serve as its flagship and core asset. It also holds 37 properties covering 309 km2 within the Sudbury mining district.
“The transaction is in line with Wallbridge’s strategy of moving forward as a pure-play gold company focused on its core Detour-Fenelon gold trend properties,” Wallbridge CEO Marz Kord said in a news release. “Archer is a focused exploration and development company which we believe has the management group and funding in place to deliver long-term value for our shareholders.”
The company is expected to distribute approximately 48.2 million of the acquired Archer shares shareholders on a pro rata basis, and will retain the remaining 18 million shares…
