Mining News
Northern Vertex and Eclipse Gold merge to create new gold producer in Western U.S.
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| Moss gold mine, Arizona. Image credit: Northern Vertex. |
(Kitco News) - Northern Vertex Mining (TSX.V:NEE, OTC-NASDAQ Intl: NHVCF) and Eclipse Gold Mining (TSX.V:EGLD, OTC:EGLPF) announced Monday that they have entered into a definitive arrangement agreement to combine in an at-market merger.
This merger will create a new gold growth resource business focused on the Western United States. Northern Vertex will be the resulting company with offices in the U.S. and Canada.
Northern Vertex President, CEO and Director Mr. Kenneth Berry stated, “The result of this transaction will be a combined company with a greatly strengthened balance sheet, and an enhanced team with extensive experience growing multi-asset gold companies. We plan to use this new platform to accelerate organic growth opportunities by targeting significant resource expansion at the Moss Mine and execute an aggressive roll-up strategy focused on the Western United States.”
Eclipse President, CEO and Director Michael G. Allen stated, “This combination gives Eclipse shareholders exposure to creating value on a larger scale, supported by positive cash-flow. Shareholders of the new combined company will now own a platform including two Walker Lane gold projects with multi-million-ounce potential, a producing mine with untapped production and cash-flow growth opportunities, and an executive team with demonstrated success building multi-asset companies organically and through M&A.”
Northern Vertex Mining owns and operates the Moss mine, currently the largest pure gold and silver mine in Arizona.
Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada’s Walker Lane trend.
