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Fokus Mining Corp V.FKM

Alternate Symbol(s):  FKMCF

Fokus Mining Corporation is a Canada-based mineral resource company. The Company is engaged in acquiring, exploring and developing mining properties, and it holds interests in properties at the exploration stage located in Canada. The Company’s Galloway project is located along the Cadillac-Larder Lake Fault. The Galloway project consists of three mining concessions and 95 claims covering a total area of approximately 2,668 hectares. The Galloway property is less than 30 kilometers (km) west of the Rouyn Noranda mining district and is accessible via Trans-Canada Highway 117. The Galloway property is the result of the amalgamation of the Hurd, Ogima Nord, Renault Bay, Sandborn, Perron, Cadillac, Francoeur and Lac Fortune claims blocks. Together, they cover a 3 km wide corridor of gold bearing structures over a total length of 10 km along the Larder-Lake-Cadillac Break (LLCB).


TSXV:FKM - Post by User

Bullboard Posts
Comment by goldspinneron Oct 09, 2017 2:17pm
148 Views
Post# 26792245

RE:Idernergie and Quad Ressources

RE:Idernergie and Quad Ressourcesit is my understanding that the trading for Quad Resources should begin at approximately the same time as Idenergie. I am drawing this conclusion from the latest update which includes the word concurrently, which means simultaneously or happening at the same time...This is derived from the bottom portion of the update which I copied below...."concurrently with the Reverse Take-over, Fieldex will complete the Spin-out." PROPOSED SPIN-OUT Concurrently with the Reverse Take-over, Fieldex will complete the Spin-out. In order to effect the Spin-out, Fieldex and QUAD Resources have entered into an Asset Transfer Agreement. The Asset Transfer Agreement provides that the Spin-out will be accomplished through the following, among other things: Fieldex will transfer all of its assets (except for cash and cash equivalents having an aggregate minimum value of $303,400) and all of its liabilities to QUAD Resources. In consideration for the transfer, QUAD Resources will issue to Fieldex 10,000,000 common shares at a deemed price of $0.10 per share; Fieldex will distribute 5,200,000 of the 10,000,000 QUAD Resources common shares to its shareholders on the basis of 0.331886 QUAD Resources common share for each Fieldex common share held on the record date for such distribution, which record date will be immediately prior to the completion of the Reverse Take-over. The balance of 4,800,000 QUAD Resources common shares will be retained by Fieldex; the appointment to the Board of Directors of QUAD Resources of three nominees of Fieldex (expected to be Sylvain Champagne, Donald Lacasse and Jean-Pierre Landry), who will join the current sole director of QUAD Resources (Martin Dallaire); the appointment of a management team for QUAD Resources, comprised of Martin Dallaire (Chairman, President and Chief Executive Officer) and Sylvain Champagne (Chief Financial Officer and Secretary); and the completion of a concurrent private placement by QUAD Resources of a minimum of 4,500,000 and a maximum of 5,500,000 QUAD Resources common shares at a price of $0.10 per share, for gross proceeds to QUAD Resources of a minimum of $450,000 and a maximum of $550,000 (the "QUAD Resources Private Placement"). At the closing of the Spin-out, assuming a QUAD Resources Private Placement of a minimum of 4,500,000 QUAD Resources common shares, there will be 14,500,000 QUAD Resources common shares issued and outstanding (15,500,000 shares in the event of a maximum QUAD Resources Private Placement), of which: (i) Fieldex shareholders will hold an aggregate of 5,200,000 shares (35.86% in the event of a minimum QUAD Resources Private Placement and 33.55% in the event of a maximum QUAD Resources Private Placement), (ii) new investors will hold an aggregate of 4,500,000 shares (5,500,000 shares in the event of a maximum QUAD Resources Private Placement) (31.03% in the event of a minimum QUAD Resources Private Placement and 35.48% in the event of a maximum QUAD Resources Private Placement); and (iii) New Idnergie will hold 4,800,000 shares (33.10% in the event of a minimum QUAD Resources Private Placement and 30.97% in the event of a maximum QUAD Resources Private Placement). QUAD Resources will use the proceeds from the QUAD Resources Private Placement for working capital purposes and for exploration of its mining properties, including the Golden Moon Property. Fieldex and QUAD Resources are in the process of completing a technical report on the Golden Moon Property compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Upon completion of the Spin-out, QUAD Resources intends to be listed on the TSXV as a Tier-2 Mining Issuer and will carry on the business currently conducted by Fieldex, that is, acquiring and exploring for precious and base metals (gold, silver, copper) as well as strategic metals (rare earth elements and rare metals) mining properties in Canada. Read more at https://www.stockhouse.com/news/press-releases/2017/09/21/fieldex-exploration-provides-update-on-proposed-reverse-take-over-with-idnergie#SD8ZybCdpz7IAOIo.99
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