RE:RE:What's Going On? Green Light Metals is Potential Buyer of Aquila Resources’ Wisconsin Assets
[Revised to clarify Barry Hildred's ownership interest].
July 14 2021 - Public documents reveal that a start-up enterprise called Green Light Metals, Inc., is the company that is seeking to buy Aquila’s Bend and Reef Projects in northern Wisconsin.
Aquila announced on June 1 that it planned to sell the Wisconsin projects to an unspecified company for $7 million in cash and stock (Canadian dollars). The buyer pledged to pay a $1 million up-front deposit.
Documents filed with Canadian regulators reveal that the buyer, Green Light Metals, has apparently raised the $1 million deposit in a private sale of stock shares.
David Barrett "Barry" Hildred, former CEO of Aquila Resources and current member of its board of directors, recently secured a 50% ownership interest in Green Light Metals, which was then called 1246775 B.C. LTD.
Hildred acquired his 50% interest through a company called Red Roof Capital, Inc., for $45.
He later purchased an additional 500,000 common shares at 15 cents per share in the private sale that closed on June 30.
Other investors include Stephen V. Donohue of Foth Infrastructure & Environment, LLC, a company that has worked closely with Aquila in the past.
Bend and Reef are very early-stage mineral exploration projects in Taylor and Marathon Counties, respectively.