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Precious Metals M&A image Precious Metals M&A » By The Online Investor Staff, updated Fri., Apr. 26, 4:07 AM Recent mergers and acquisitions in the Precious Metals M&A category.

Slide #46. Tawsho Mining Inc. Rockcliff Resources Inc.

Acquirer: Tawsho Mining Inc. (TAW.CA)
Acquiree: Rockcliff Resources Inc. (RCR.CA)
Details: Rockcliff Resources Inc. ("Rockcliff") (TSX VENTURE:RCR) and Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho") are pleased to announce that they have entered into a letter of intent (the "LOI") which sets out the principal terms upon which it is proposed that the two corporations will complete a business combination (the "Merger"). The Merger will be effected on a share for share basis such that each nine (9) issued and outstanding securities of Rockcliff will be exchanged for five (5) securities of Tawsho. At the conclusion of the Merger, the existing Tawsho shareholders will hold approximately 69.72% of the outstanding shares of the combined entity ("MergeCo") and the existing shareholders of Rockcliff will hold approximately 30.28% of the outstanding shares of MergeCo. It is anticipated that MergeCo will continue to be named "Tawsho Mining Inc." and will continue to be listed on the TSX Venture Exchange ("TSXV"). Currently Rockcliff has 22,868,903 common shares issued and outstanding and Tawsho has 29,251,849 common shares issued and outstanding. MergeCo will have 41,956,795 common shares issued and outstanding before giving effect to the Rockcliff Financing referred to below. As part of the Merger, Zoran Arandjelovic, Chairman of Tawsho, (as to $300,000) and Steve Balch, President & C.E.O. of Tawsho, (as to $60,000) have agreed to subscribe for a total of $360,000 of the Rockcliff Financing on the terms set out below.

Tawsho Mining is engaged in the acquisition, exploration and development of properties for the mining of precious and base metals with mineral property interests located in Quebec and Newfoundland.

Open the TAW.CA Page at The Online Investor »

Tawsho Mining is engaged in the acquisition, exploration and development of properties for the mining of precious and base metals with mineral property interests located in Quebec and Newfoundland.

Open the RCR.CA Page at The Online Investor »

Company Name:  Tawsho Mining Inc
Website:  www.tawshomining.com
Sector:  Precious Metals
Company Name:  Rockcliff Resources Inc
Website:  www.rockcliffresources.com
Sector:  Precious Metals
 

April 26, 2024    4:07 AM Eastern
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