Mann mine sale https://www.powerore.com/power-ore-to-sell-its-mann-mine-to-rider-investment-capital-for-1-25-million/
Power Ore To Sell Its Mann Mine to Rider Investment Capital for $1.25 Million
Toronto, Ontario – February 25, 2020 – Power Ore Inc. (“Power Ore” or the “Company”) (TSX.V: PORE) is pleased to announce that has entered into an agreement to sell its Mann Mine to Rider Investment Capital Corporation (“Rider”) (TSX.V:RDR.P), a Capital Pool Company listed on the TSX Venture Exchange.
In exchange for Power Ore’s 100% interest in the Mann Mine it will receive 17,857,143 shares of Rider at an impiled $1.25 million valuation. The sale is an arm’s length transaction and a part of and conditional upon Rider’s Qualifying Transaction for Rider’s full listing on the TSX Venture Exchange. As a part of the Qualifying Transaction, Rider will complete a concurrent financing.