- Clover Leaf (CLVR.P) has signed a share exchange agreement for its qualifying transaction
- It will acquire all outstanding securities of North Shore Energy Metals, a mineral exploration company based in the Athabasca Basin
- North Shore Energy’s Falcon and West Bear properties are prospective for uranium and other metals
- The qualifying transaction is estimated to be completed by April 30, 2023
- Clover Leaf Capital is a capital pool company
- Clover Leaf (CLVR.P) opened unchanged, trading at $0.09 per share
Clover Leaf (CLVR.P) has signed a share exchange agreement for its qualifying transaction.
It will acquire all outstanding securities of North Shore Energy Metals, a mineral exploration company whose Falcon and West Bear properties in the Athabasca Basin are prospective for uranium and other metals.
Clover Leaf will issue 16,725,100 common shares, one for each share of North Shore Energy.
North Shore Energy will concurrently complete an equity offering to raise aggregate gross proceeds of not less than C$5 million.
The proceeds will be used to fund exploration programs on the Falcon and West Bear properties, as well as for transaction costs and general and administrative expenses.
The qualifying transaction is estimated to be completed by April 30, 2023, subject to sponsorship requirements and customary conditions.
Clover Leaf Capital is a capital pool company.
Clover Leaf (CLVR.P) opened unchanged, trading at $0.09 per share.