Leviathan Gold Secures $3.5M Financing for Acquisition Plans
Leviathan Gold Secures Financing for Future Growth
In a significant development for mineral exploration, Leviathan Gold Ltd. (OTC: LVXFF) has announced that Cura Exploration Botswana Corp. has successfully completed a private placement financing. This deal totals $3,500,000 and is pivotal for Leviathan's forthcoming acquisition plans. By securing this financing, Cura meets a vital prerequisite linked to a recently signed letter of intent regarding the acquisition of its securities.
Details of the Private Placement Financing
The financing, known as the Cura Financing, positions Leviathan well as it embarks on acquiring all issued and outstanding securities from Cura. This is an important step in the Proposed Transaction, which aligns with Leviathan's strategic vision for growth and expansion in the mineral resources sector.
Extension Agreement for the Proposed Transaction
Adding to the good news, Leviathan has initiated an extension agreement with Cura. The parties involved now have until September 30 of the upcoming year to finalize a comprehensive agreement for the Proposed Transaction. This extension provides additional time to navigate through the necessary formalities and documentation.
Implications of the Financing on Share Trading
As part of the regulatory process, Leviathan’s trading on the TSX Venture Exchange (TSXV) has been paused since June due to the comprehensive review of the Proposed Transaction. Such trading halts are standard for fundamental acquisitions; however, they will be lifted once Leviathan meets certain predefined requirements under Section 5.6 of TSXV Policy 5.3. This includes the submission of technical reports compliant with the National Instrument standards regarding mineral disclosure.
Moving Forward with Regulatory Compliance
Currently, both Leviathan and Cura are diligently preparing the essential documentation, which consists of technical reports and necessary financial statements. This regulatory compliance is crucial for moving forward with the acquisition process and is expected to pave the way for increased trading activities once the regulatory body completes its review.
About Leviathan Gold Ltd.
Leviathan Gold Ltd. operates as a Canadian mineral exploration company. It has listings on the TSX Venture Exchange under the ticker symbol LVX and on the Frankfurt Stock Exchange as 0GP. The company focuses on identifying and developing high-quality mineral assets, showcasing a commitment to advancing its operations and contributing to the mining sector.
Leadership Insights
At the helm of Leviathan’s operations is Luke Norman, the Chief Executive Officer and Director, who emphasizes the company's dedication to harnessing growth opportunities within the industry. Under his leadership, Leviathan is strategically positioned to expand its influence in the mineral resources market.
Frequently Asked Questions
What is the purpose of the $3.5 million financing?
The financing is aimed at facilitating Leviathan Gold's acquisition of all issued and outstanding securities of Cura Exploration Botswana Corp.
Who is leading Leviathan Gold?
The company is led by Luke Norman, who serves as the Chief Executive Officer and Director.
What does this acquisition mean for Leviathan Gold?
This acquisition represents a strategic growth opportunity that could enhance Leviathan's asset portfolio and market position.
When was the completion of the private placement financing announced?
The financing completion was recently announced and marks an important milestone for the company.
Where can I find more information about Leviathan Gold Ltd.?
Interested parties can visit Leviathan's official website or access their profile on SEDAR+ for further updates and details.
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