- Power Group Projects Corp. (PGP) has agreed to acquire all common shares of 1311516 B.C. Ltd. (BCCo)
- BCCo is a private company incorporated under the laws of the Province of BC
- Power Group will issue 46,200,000 of its common shares to BCco, and its shareholders (the vendors)
- BCCo confirms that the initial payment of $25,000 has been made in accordance with the Icefall Option Agreement
- Power Group Projects Corp is a Canadian company which is engaged in the acquisition and exploration of resource properties
- Power Group Projects Corp. opened the day trading at $0.02 per share
Power Group Projects Corp. (PGP) has agreed to acquire all the issued and outstanding common shares of 1311516 B.C. Ltd. (BCCo).
BCCo is a private company incorporated under the laws of the Province of British Columbia, whose sole assets are option agreements with Cloudbreak Discovery PLC and Cloudbreak Discovery (Canada) Ltd. (the optionor) BCCo has the option to acquire a 75 per cent interest in certain mineral claims in the Province of British Columbia.
BCCo shareholders (the vendors) will receive a total of 46,200,000 Power Group shares.
Upon closing of the transaction, BCCo will become a wholly owned subsidiary of Power Group Projects Corp. and Power Group will assume all obligations owing to Cloudbreak Discovery under the option agreements.
The Rizz Project covers 5,415 hectares of mineral titles in northwestern BC, situated in the Boundary Ranges Metamorphic Suite and Sloko Group plutonic and volcanic rocks west of the Llewellyn fault.
Assay results from historic samples of this mineralization include up to 27.6 grams per tonne (g/t) gold, 562.9 g/t silver, 8.25 per cent lead and 15.9 per cent zinc.
Power Group Projects Corp is a Canadian company which is engaged in the acquisition and exploration of resource properties.
Power Group Projects Corp. opened the day trading at $0.02 per share.
