TGX Energy & Resources Inc V.TGX

Alternate Symbol(s): TNGMF

Metals & Mining Industrial Metals & Minerals

TGX Energy & Resources Inc., formerly True North Gems Inc., is engaged in the exploration and evaluation of natural resource properties in Canada. Its properties include True Blue, Cobalt Hill, Chuchinka rare earth element (REE), Decelles and The Nabikok. The True Blue Property comprises around 303 claims located 55 kilometers (km) south of Ross River, Yukon. The Cobalt Hill Property, a base and precious metal prospect, is located five km east of Castlegar in southeastern British Columbia (BC), covering an area of over 562.5186 hectares (ha). The Chuchinka REE property is a grassroots REE exploration prospect covering an area of over 562 ha, which is located four km north of the Defense Metals Corp. REE discovery known as the Wicheeda rare earth element deposit, in BC. The Decelles property consists of around 215 claims. Nabikok Property is an early-stage lithium-bearing spodumene pegmatite prospect comprised of 155 exploration claims, located in the eastern region of the Abitibi Belt.

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TGX Energy & Resources Inc

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Post by Marc24on Sep 03, 2016 7:42am

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Post# 25205291

My guess- pure speculation

They obtained the needed financing by "partnering" with a larger, established industry player. They agree to a friendly takeover as a means to get the cash. What price? Who knows. I don't think the news is related to bankruptcy or forfeiture of assets. Frankly, while $12 million is about $13 million more than what I have, it is peanuts for other investors and companies. A complete buy out for let's say $40 million is nothing.

Again, I have no knowledge on this matter. This is just a guess.

GLTA,

Marc

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