NEE/EGLD Deal Approved The merger between NEE and EGLD is now complete. This is great news for PGOL because the new company will be better funded and allow for increase production, plus prove up more gold/silver ore at Moss.
Eclipse Gold receives court OK for Northern Vertex deal
2021-02-09 21:01 MT - News Release
See News Release (C-EGLD) Eclipse Gold Mining Corp
Mr. Kenneth Berry of Northern Vertex reports
ECLIPSE GOLD RECEIVES FINAL COURT ORDER APPROVING PLAN OF ARRANGEMENT WITH NORTHERN VERTEX AND ANNOUNCES SECURITY HOLDER VOTING RESULTS
Eclipse Gold Mining Corp. has received a final order from the Supreme Court of British Columbia, approving the previously announced plan of arrangement between Eclipse and Northern Vertex Mining Corp. pursuant to which Northern Vertex will acquire all of the issued and outstanding common shares of Eclipse. Pursuant to the transaction, Eclipse shareholders will be entitled to receive 1.09 common shares of Northern Vertex in exchange for each common share of Eclipse held. Please see the joint news releases of Northern Vertex and Eclipse dated Dec. 7, 2020, Dec. 21, 2020, and Jan. 14, 2021, for further details regarding the transaction, as well as Eclipse's management information circular dated Dec. 30, 2020, available under Eclipse's corporate profile on SEDAR.
Receipt of the final order follows Eclipse's special meeting of securityholders, held on Feb. 4, 2021, where the transaction was overwhelmingly approved by 99.82 per cent of the votes cast by the shareholders of Eclipse and 99.83 per cent of the votes cast by the shareholders and the optionholders of Eclipse voting as a single class. Closing of the transaction remains subject to customary closing conditions, including final approval of the TSX Venture Exchange.
The transaction is currently anticipated to close on Feb. 12, 2021. Eclipse has applied to the exchange to delist its common shares from trading on the exchange following the closing of the transaction. Eclipse will request that trading in the Eclipse shares will be halted after market close on Feb. 11, 2021. Assuming the transaction closes on Feb. 12, 2021, the common shares of Eclipse are expected to be delisted after market close on or about Feb. 16, 2021.
About Northern Vertex Mining Corp.
Northern Vertex owns and operates the Moss mine, currently the largest pure gold and silver mine in Arizona. Focused on low-cost gold and silver production, the company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss, the company intends to consolidate additional producing and exploration gold assets within the western United States. Through mergers and acquisitions, Northern Vertex has a corporate goal to become a mid-tier gold producer.
About Eclipse Gold Mining Corp.
Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada's Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation, epithermal, gold system. The company brings together a team with a record of extensive mergers and acquisitions and nine successful buyouts totalling $4.6-billion.
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