Lahontan Gold Acquires Emergent Metals in Share Exchange Deal
Lahontan Gold has entered into an agreement to acquire all issued and outstanding shares of Emergent Metals, consolidating its ownership of the West Santa Fe project in Nevada. The transaction involves a share exchange ratio of one Lahontan share for every 3.21 Emergent shares held, with an implied value of C$0.115 per Emergent share. Upon completion, existing Lahontan shareholders will control approximately 95.3% of the combined company. The acquisition eliminates future payments and a royalty obligation related to West Santa Fe and other claims at Santa Fe Mine. It also includes the New York Canyon project in Nevada with potential for precious and base metals. Additionally, Lahontan assumes a $3.5 million promissory note from Fairchild Gold and acquires shares, royalties, properties, and leased claims. The deal is subject to regulatory approvals including shareholder consent, court orders, TSX Venture Exchange acceptance, and other consents.
Topics: Acquisition Mining Resource Expansion