- Green Panda (GPCC.P) intends to acquire two mineral exploration properties in Nevada
- The company has signed a non-binding letter of intent with a private company to acquire the land rights for both of the mineral properties
- Under the terms of the deal, the private company will become a wholly-owned subsidiary of Green Panda
- Once the transaction closes, it is expected the company will qualify as a Tier 2 Mining Issuer under TSXV reporting requirements
- Green Panda Capital is unchanged, trading at $0.075 at 10:34 a.m. ET
Green Panda (GPCC.P) has announced its intention to acquire two mineral exploration properties in Nevada.
The Toronto-based capital market company has signed a non-binding letter of intent with a private company to acquire the land rights for both of the mineral properties
Under the terms of the deal, the private company will become a wholly-owned subsidiary of Green Panda.
Green Panda is a capital pool company and intends for the proposed transaction to constitute its qualifying transaction pursuant to the policies of the TSX Venture Exchange.
Trading of Green Panda’s common shares has temporarily been halted. It is anticipated that trading will remain halted until the completion of the proposed transaction.
Once the transaction closes, it is expected that the company will qualify as a Tier 2 Mining Issuer under TSXV reporting requirements.
The deal does not require Green Panda shareholder approval.
Green Panda Capital is unchanged, trading at $0.075 at 10:34 a.m. ET.