TomaGold spin-out Monster Lake takes option over property
TSX-V-listed TomaGold’s proposed spin-out Monster Exploration has entered into a share purchase option agreement to acquire an option over the Philibert property, 10 km south-east of its Monster Lake property in Quebec's Chibougamau mining camp.
Pursuant to the agreement, Monster has the right and option to acquire 100% of the outstanding shares of 9220-5392 Québec, which holds an option over Philibert, subject to a 0.5% net smelter return royalty.
Monster also announced on Thursday that it intended to complete its nonbrokered private placement offering to raise between $8-million and $10-million.
In addition, the corporation has strengthened its proposed board of directors with the addition of Jean-Sébastien Jacquetin as an independent director.
Jacquetin has more than 20 years of corporate finance and merchant banking experience for small and medium-sized enterprises. He is currently managing partner at Confluence Synergy & Co., an associate company of Rosemont International, which provides in-depth management expertise in corporate finance, mergers and acquisitions, wealth management and business strategy.
"We're extremely pleased to announce that Jean-Sébastien has agreed to join Monster's board of directors," said TomaGold president and CEO David Grondin.
"Monster's ability to attract such a well-regarded individual to its team speaks to the high-quality and compelling aspect of its property portfolio and general business strategy. His vast financial expertise and international network will definitely contribute to the venture success, as we are pushing on finalising the spin-out transaction and financing."
TomaGold announced the spin-out of Monster in January, allowing the company to focus on its interests in other projects in Quebec and Ontario.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
