- Silk Road Energy (SLK.H) will resume trading on the TSX NEX Exchange on Wednesday, April 13, 2022
- Conditional acceptance has been granted for the company’s reactivation for trading on the TSX Venture Exchange
- The reactivation is conditional on shareholders approving the non-arm’s length acquisition of the Amikougami and Otto, Kirkland Lake properties and the completion of a private placement
- The company will hold a special shareholder meeting on June 6, 2022
- The share price of Silk Road Energy Inc. remained unchanged at $0.035 at 12:26 PM ET.
Silk Road Energy (SLK.H) will resume trading on the TSX NEX Exchange on Wednesday, April 13, 2022.
Conditional acceptance has been granted for the company’s reactivation for trading on the TSX Venture Exchange (“TSXV”).
The reactivation is conditional on shareholders approving the acquisition of the Amikougami and Otto, Kirkland Lake properties and the disposition of remaining oil and gas assets along with the completion of a private placement.
The acquisition consists of Silk Road acquiring from Record Gold Corp a 100 percent interest in the Amikougami and Otto gold exploration concessions located near Kirkland Lake, Ontario, in return for approximately nine million shares of Silk Road at a price of $0.05 per share.
The Amikougami property is a gold exploration concession located 4000 metres from Agnico Eagle’s Macassa Mine.
The Amikougami claim block abuts the claims surrounding the Macassa Mine. Due to changes following the advent of new staking technology, some of these claims overlap Agnico Eagle’s claims.
The Otto property is located approximately nine kilometres to the southwest of the Macassa Mine.
Also, as earlier reported, Silk Road has entered into the disposition through the sale of its remaining oil and gas interests at Bashaw and Thornbury, Alberta, to Gold Note Resources Inc.
The company will hold a special shareholder meeting on June 6, 2022, which will include the approval of the acquisition and the disposition.
The private placement announced by Silk Road remains open. The unit offering consists of one common share priced at $0.06 and a $0.12 warrant exercisable for twelve months.
The share price of Silk Road Energy Inc. remained unchanged at $0.035 at 12:26 PM ET.