|
SolGold PLC - Brisbane, Australia-based developer of copper-gold deposits in Ecuador - Says it has completed the acquisition of Cornerstone Capital Resources Inc. The Cornerstone shares are expected to be delisted from the TSX Venture Exchange after the close of trading on February 28, and will cease trading from the OTC Pink Market and Frankfurt Stock Exchange. Expects SolGold to start trading on the main market of the London Stock Exchange on Monday. Chief Executive Officer Scott Caldwell says: ‘SolGold has now consolidated a 100% interest in the world-class Cascabel project. This is an exciting transaction for all stakeholders that simplifies our structure and strengthens SolGold’s strategic opportunities. We are focused on maximising shareholder value and advancing the strategic review as a top priority. We will maintain our disciplined approach to capital allocation as we de-risk and advance Cascabel and priority exploration projects.’ With the acquisition, SolGold plans to reduce its workforce and the number of time zones of its operations to focus to advance the Cascabel project in northern Ecuador. Cornerstone Capital is a prospect generator with a portfolio of gold, silver and copper projects in Ecuador and Chile. Current stock price: 13.62 pence each, down 3.7% on Friday afternoon in London 12-month change: down 51% Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
