Imperial Ginseng Proceeds with Merger Agreement with One Bullion

Imperial Ginseng Engages in Strategic Merger with One Bullion

Imperial Ginseng Products Ltd. (TSXV: IGP) is excited to share news of its recent definitive merger agreement with One Bullion Ltd., a promising gold exploration company based in Toronto. This merger agreement, which was finalized on September 11, marks a significant step forward for both companies as they aim to position themselves strategically within the mining sector.

Overview of the Merger Agreement

Pursuing the terms laid out in the merger agreement, Imperial Ginseng will acquire all outstanding common shares of One Bullion. This transaction not only reflects Imperial's commitment to embracing new business opportunities but also sets the stage for expansion into gold exploration, an area of increasing interest and demand.

Financial Funding through Concurrent Financing

In conjunction with this merger, One Bullion is gearing up for a concurrent financing initiative, aiming to raise between $3 million and $5 million. This financing will provide necessary capital to bolster exploration efforts and drive growth post-merger.

Anticipating the Resulting Entity

With this merger, the newly formed entity, referred to as the Resulting Issuer, will undergo a name change that reflects its enhanced focus on gold exploration. The TSX Venture Exchange (TSXV) must approve the transaction, which is expected to be structured as a reverse takeover, further emphasizing the strategic alignment of these businesses.

Trading and Regulatory Considerations

As a part of the transaction, trading of Imperial Shares has been temporarily halted, a standard procedure pending completion of such significant business changes. After the merger is finalized, the Resulting Issuer's shares are set to trade on the TSXV with a new symbol, further solidifying their market identity.

Understanding One Bullion Ltd.

One Bullion Ltd. specializes in gold exploration, with significant holdings in Botswana, featuring three key projects that cover over 8,000 square kilometers. Their strategic approach focuses on building sustainable mining practices while providing value to shareholders and local communities.

Project Highlights from One Bullion

Among One Bullion’s projects, notable highlights include:

• Vumba Project: Shows great potential with numerous high-grade findings and historical data indicating valuable mineralization.
• Kraaipan Gold Project: Situated in a historically rich gold area, it presents vast untapped opportunities with identified high-potential targets.
• Maitengwe Project: Located in a well-known gold region, it offers untested ground with promising structural geology.
• Aruba/Molopo Project: This effective partnership allows One Bullion to explore without capital outlay, focusing on nickel, PGE, and manganese.

Leadership Changes Supporting Growth

Upon closing of the merger, substantial changes will unfold within the company’s board and executive team. Each current director is expected to resign, allowing for new appointments that include key industry leaders with substantial experience and strategic vision. This board reconstitution represents a proactive step towards aligning the company’s leadership with its future direction.

Meet the New Leaders

This leadership transition is poised to drive the company's growth trajectory. Notable appointees include:

• Adam Berk: As CEO, he brings experience across multiple enterprises in the resource sector.
• Arno Brand: COO with a robust background in commodities and mining projects.
• Stephen Woodhead: Financial strategist with vast experience in the resource industry.

Final Considerations and Prospects

As Imperial Ginseng moves ahead with this merger, it is crucial for the company to ensure all regulatory approvals are met and that shareholders provide their necessary backing.

This merger with One Bullion not only emphasizes the company’s diversification strategy but also enhances its portfolio in a sought-after sector. The combination of expertise and resources is expected to create a strong foundation for future growth.

Frequently Asked Questions

What is the significance of the merger between Imperial Ginseng and One Bullion?

This merger allows Imperial Ginseng to expand its business into the gold exploration sector, positioning it for growth and new opportunities.

What does the concurrent financing involve?

One Bullion plans to raise between $3 million and $5 million to support the exploration and development of its projects.

How will the shares be traded post-merger?

The combined entity's shares will trade on the TSXV under a new trading symbol, pending the requisite regulatory approvals.

Who will lead the new company?

A new board of directors and executive leadership will be established as part of the merger, consisting of experienced professionals from the resource sector.

What are the anticipated outcomes of this merger?

The merger is expected to enhance operational capabilities, roll out promising exploration projects, and ultimately drive shareholder value.

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