Monday, September 15, 2025

Latest

West Red Lake To Be Acquired By Frank Guistra’s DLV Resources

West Red Lake (CSE: RLG) has reached terms to proceed with a previously announced business combination. The firm will be combining with DLV Resources (TSXV: DLV.H), which is held in large part by Frank Guistra.

The definitive agreement will see West Red lake acquired for 0.125 of a share for each share held, equating to consideration per share of $0.0625, based on the most recent trading price of $0.50 per share for DLV. On a post-transaction basis, DLV is expected to have 52.0 million shares outstanding, with West Red Lake shareholders owning 45.5% of the company.

Outside of West Red Lake shareholders, current DLV shareholders will own 31.87% of the company on a post-transaction basis, while 22.63% will be owned by subscribers to a concurrent $4.6 million flow-through financing being conducted at $0.0475 per share in West Red Lake.

Upon closing of the transaction, DLV Resources is expected to move its listing from the Nex Board to the TSX Venture, while West Red lake will be delisted from the CSE.

West Red Lake shareholders are set to vote on the combination on November 10.

DLV Resources is a Nex-board listed issuer, whom is significantly controlled by Frank Guistra. Guistra currently owns or controls a total of 17.29% of the company via direct ownership as well as through joint actors.

West Red Lake last traded at $0.04 on the CSE.


FULL DISCLOSURE: West Red Lake Gold Mines Inc is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover West Red Lake Gold Mines Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

West Red Lake Begins Fall 2020 Drill Program At NT Zone

West Red Lake Gold Mines (CSE: RLG) reported after the bell last night that it...

Friday, October 9, 2020, 07:41:00 AM

West Red Lake Gold Hits 6.27 g/t Gold Over 10.1 Metres

West Red Lake Gold Mines (TSXV: WRLG) released further assays this morning as it continues...
Tuesday, August 29, 2023, 09:02:03 AM

West Red Lake Completes 3,187 Metre Drill Program At Flagship Property

West Red lake Gold Mines (CSE: RLG) has completed its ten drill hole drilling program...

Friday, August 7, 2020, 04:41:19 PM

West Red Lake Gold Hits 77.87 g/t Gold Over 1.9 Metres At Rowan Mine

West Red Lake Gold Mines (CSE: RLG) yesterday had a midday news release. The news...

Friday, October 15, 2021, 07:33:03 AM

West Red Lake Gold Plans To Drill Test 17,000 Metres In 2023

West Red Lake Gold (TSXV: WRLG) is starting off the 2023 exploration season with a...

Monday, March 13, 2023, 09:57:34 AM