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Provider: Reuters Investment Profile

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Delta Gold Corp and Commonwealth Silver and Gold Mining Inc sign arrangement agreement

Friday, 6 Jun 2014 02:06pm EDT 

Delta Gold Corp:Says the company and Commonwealth Silver and Gold Mining Inc have signed a definitive arrangement agreement with respect to the proposed business combination.Business combination result in a reverse takeover of Delta Gold by Commonwealth Silver, thereby resulting in a going-public transaction for Commonwealth Silver.Under the terms of the Agreement, Delta Gold's outstanding common shares will be consolidated on a 20:1 basis.In connection with the Transaction, Commonwealth Silver expects to complete a concurrent financing of between $3 million and $10 million. 

Company Quote

24 Apr 2014