- Silk Road Energy Inc. (SLK.H) has closed its purchase of the Amikougami and Otto gold properties following a majority approval by its shareholders
- The properties are made up of 16 patented mining claims containing five mining licenses
- Some of the Amikougami claims overlap Agnico Eagle’s claims
- Shareholders approved 8.99 million shares to be issued for $0.05 cents apiece which funded the property purchase
- Also approved was the company’s interest in four natural gas companies
- Silk Road Energy Inc. (SLK.H) is unchanged trading at $0.06 per share as of 2:52 p.m. ET
Silk Road Energy (SLK.H) has acquired the Amikougami and Otto gold properties following
approval by its shareholders.
The Amikougami and Otto gold properties are made up of 16 patented mining claims which contain five mining licenses. The combined area for both properties is 192.56 hectares.
Silk Road declared that due to changes behind the new era of staking technology, some of the Amikougami package overlaps Agnico Eagle’s claims.
According to the company, its shareholders approved 8.99 million shares to be issued for $0.05. This financing allowed Silk Road to acquire the Kirkland Lake mining camp properties.
Shareholders also signed off on the disposition of the company’s interests in four natural gas properties, as well as approving a revised stock option plan. As a result, Silk Road now has 27.5 million of its shares outstanding.
Silk Road now owns three gold properties in the Kirkland Lake mining camp, including the Four Nations-Grenfell property transaction.
The Four Nations-Grenfell property is west of Kirkland Lake, Ontario, and includes five claim blocks comprising 5.2 square kilometres in the Grenfell Township.
The property hosts multiple gold occurrences according to historical work.
Silk Road Energy Inc. (SLK.H) is unchanged trading at $0.06 per share as of 2:52 p.m. ET.