Northern Vertex Closed Acquisition of Eclipse Gold Mining
Mining News | 2021-02-16 21:35:50
Also, shares of Eclipse will be delisted from the TSX Venture Exchange as of the close of trading on 17th February, 2021.
By Paul Ploumis
SEATTLE (Scrap Monster): Northern Vertex Mining Corporation has announced acquisition of Eclipse Gold Mining Corporation, thus creating a well-funded gold producer and consolidator, whose operations will be entirely within Western U.S.
As per reports, Northern Vertex has acquired all of the issued and outstanding common shares of Eclipse. Upon completion of the completion, shareholders of Eclipse would receive 1.09 common shares of Northern Vertex in exchange for each share held by them. Also, shares of Eclipse will be delisted from the TSX Venture Exchange as of the close of trading on 17th February, 2021.
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Maverix Metals Inc. currently owns 18,468,541 common shares of Northern Vertex, representing 4.9% of the total issued and outstanding common shares. The company will have all rights to acquire additional common shares and or other securities or instruments of Northern Vertex in the open market or otherwise at any time, in accordance with the securities laws.
Commenting on the transaction, Kenneth Berry, President and CEO of Northern Vertex noted that the combination of the assets and leadership teams of both the companies have resulted in creation of a powerful gold consolidation company. The combined entity aims to become a mid-tier producer, aided by significant organic growth prospects at the Moss Mine in Arizona and the Hercules Project in Nevada, Berry added.
