Pure Gold Jewellers

WEST RED LAKE GOLD MINES LTD. TO ACQUIRE MADSEN GOLD MINE IN TRANSFORMATIVE TRANSACTION

Retrieved on: 
Monday, April 17, 2023
Minority, TSX Venture Exchange, FOR, Pure Gold Jewellers, MI, NOT, Companies' Creditors Arrangement Act, Evolution Mining, ASX, NSR, CCAA, Sale, Underwriting, US, WIRE, Gold, Acquisition, Offering, Transaction, OTC, Supreme court, NEWS, Law of the United Kingdom, TSX, Growth, Letter, Security (finance), Mining, Cryptocurrency, Financial adviser, Bank, Pure Gold, Rowan, Sprot

The share and NSR consideration is expected to accrue to Sprott as a fund managed by Sprott is the senior secured lender to Pure Gold.

Key Points: 
  • The share and NSR consideration is expected to accrue to Sprott as a fund managed by Sprott is the senior secured lender to Pure Gold.
  • Following the transaction, WRLG will become a leading, debt-free, and well-capitalized explorer and developer of high-grade gold in the historic Red Lake gold camp.
  • Madsen is strategically surrounded by major producers Evolution Mining (ASX:EVN), Kinross Gold (TSX:K) and Barrick Gold (TSX:ABX)
    Post transaction WRLG emerges debt-free and well capitalized.
  • Tom Meredith, CEO and Director of WRLG, stated, "The acquisition of the Madsen Mine is a major step, and positions us as a leader in Red Lake gold exploration and development.

GoldON Acquires a 100% Interest in Great Bear's West Madsen Gold Property in Red Lake Ontario

Retrieved on: 
Wednesday, September 15, 2021
Slate, Project, Heart, Company, GLD, Baghmundi (community development block), Ultraman, McDonough, Slate Falls Airport, Royalty, Property, Patricia, Block, Pure Gold Jewellers, Great Bear, Acquisition, Flat Lake, News, Oil

The Project is located in the heart of the Red Lake Gold Camp and adjoins Canada's newest high-grade gold mine

Key Points: 
  • The expanded Block A adjoins Pure Gold's Red Lake mine property where they achieved commercial production last month (see Pure Gold's news release of August 3, 2021 ).
  • To view an enhanced version of Figure 2, please visit:
    "We have completed the acquisition of the West Madsen property over two years ahead of the term of the option agreement," said Mike Romanik president of GoldON.
  • GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada.
  • Our current project portfolio includes six properties in the Red Lake Mining Division (West Madsen, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and McDonough) and a seventh property in the Patricia Mining Division (Slate Falls).