- C2C Gold Corp. (CTOC) has signed a share-purchase agreement with The Rock Gold Corp. to acquire all of the shares of Rock Gold
- The transaction involves a total of 12,250,000 common shares of the company
- In connection with the acquisition of Rock Gold, William M. Sheriff has been appointed as a director of the company
- The Rock Gold Corp. is a privately held Newfoundland-based gold exploration company that holds rights to certain mineral claims in Newfoundland
- C2C Gold Corp is a Canadian mineral exploration company focused on acquiring and developing mineral projects in Newfoundland
- C2C Gold Corp opened trading at $0.17
C2C Gold (CTOC) has signed a share-purchase agreement with The Rock Gold Corp.
C2C Gold will acquire all of the issued and outstanding shares of Rock Gold for 12,250,000 common shares.
In connection with the acquisition of Rock Gold, William M. Sheriff has been appointed as a director of the company.
Rock Gold holds more than 40 mineral licences in Newfoundland with projects lying along most of the major gold bearing trends.
Also, Rock Gold holds 5 properties, 2 of which are drill ready, under option from well-known local prospectors.
The combination of the two companies will provide a pipeline of projects from early exploration stage through drill ready with known gold occurrences documented on most of the projects, all of which lie along major structures.
In accordance with the share-purchase agreement, the company has agreed to issue a total of 12,250,000 common shares of the company to the shareholders of Rock Gold on a pro rata basis.
The company will issue to the shareholders of Rock Gold one C2C share for every two Rock Gold shares.
“This transaction allows the combined entity to leverage geological and financial expertise to advance high‐quality exploration projects while identifying other projects in its portfolio available for joint-venture, sale, or option, thereby allowing C2C to monetize these projects through participation, royalty retention and/or sales proceeds,” stated Lori Walton, Director of C2C Gold.
Effective immediately Janet Lee-Sheriff has resigned from the Board of Directors and will remain as Chief Executive Officer on an interim basis.
The Rock Gold Corp. is a privately held Newfoundland-based gold exploration company that holds rights to certain mineral claims in Newfoundland.
C2C Gold Corp is a Canadian mineral exploration company focused on acquiring and developing mineral projects in Newfoundland.
C2C Gold Corp opened trading at $0.17.
