Saturday, July 5, 2025

Latest

MAS Gold Enters Definitive Agreement To Be Acquired By Southern Empire

Southern Empire Resources (TSXV: SMP) has entered into a definitive agreement to acquire that of MAS Gold (TSXV: MAS), a firm with two advanced stage gold projects located in the La Ronge Gold Belt in Saskatchewan. The transaction will see MAS acquired via an all share transaction, with shareholders owning 10.3% of the resulting issuer.

MAS currently has two primary projects in Saskatchewan, for which the firm has current mineral resource estimates. The North Lake Gold Deposit has an inferred resources of 417,000 ounces of gold at 0.92 grams per tonne, while the Greywacke North Gold Deposits contains an indicated and inferred resource of 95,600 ounces at 9.92 g/t for 255,500 tonnes and 7.42 g/t for 59,130 tonnes, respectively. The company also has three less prominent projects in the region as well.

Under the terms of the arrangement, shareholders of MAS Gold will receive one common share of Southern Empire for every 8.5 common shares held of MAS. A total of 5,828,090 common shares are expected to be issued in connection with the transaction, resulting in Southern Empire having a total outstanding share count of 57,734,890. The resulting issuer is expected to have a strong balance sheet that features no debt and a cash position of approximately $4.5 million.

We are pleased that the due diligence process has completed in a timely manner to the satisfaction of both parties. Management is now, more than ever, confident in its decision to pursue the acquisition of MAS Gold and looks forward to advancing the La Ronge Gold Belt projects.

Dale Wallster, CEO of Southern Empire Resources

Both boards of directors have approved of the acquisition and recommended that shareholders approve the transaction. It should also be noted that Ronald Netolitzky, a popular figure in Saskatchewan mining operations, is Chairman of Southern Empire, while also serving as CEO of MAS Gold. Similarily, Andrew Davidson, another well known figure in the Saskatchewan arena, is chief financial officer of both firms.

The transaction is expected to close in the second half of 2020.

Southern Empire Resources last traded at $0.73 on the TSX Venture.


Information for this briefing was found via Sedar, MAS Gold and Southern Empire Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Torex Gold Acquires Reyna Silver For CASH!

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Bitcoin Mining Less Energy-Intensive Than Banking System and Gold Industry

The explosion in cryptocurrency mining over the past year has prompted an onslaught of environmental...

Monday, May 17, 2021, 04:25:00 PM

Great Panther Reduces Production Guidance At Tucano Following Excess Rainfall

Great Panther Mining Limited (TSX:GPR) this morning reduced guidance for its open pit operation in...

Tuesday, May 25, 2021, 08:26:33 AM

Osisko Development Sees CFO Resign After 3 Months

Osisko Development (TSXV: ODV) released a rather long corporate update this morning, with the firm...

Tuesday, January 19, 2021, 08:55:02 AM

Banyan Gold Intersects 1.39 G/T Gold Over 41.7 Metres At AurMac

Banyan Gold Corp. (TSXV: BYN) announced today the diamond drill results from the 2020 exploration...

Wednesday, April 21, 2021, 09:42:54 AM

Garibaldi Resources Secures $12.0 Million Financing Facility

Garibaldi Resources (TSXV: GGI) this morning announced a financing facility, as well as preliminary results...

Friday, September 3, 2021, 08:32:40 AM