Northern Vertex Mining and Eclipse Gold Mining to combine
Northern Vertex Mining (TSX.V:NEE, NASDAQ Intl: NHVCF) and Eclipse Gold Mining announced yesterday that the two are combining.
Northern Vertex Mining Corp. 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.
The combined company will be comprised of 71% Northern Vertex shareholders,
18% Eclipse shareholders and 11% new shareholders.
The new entity will be named Northern Vertex.
Northern Vertex CEO Kenneth Berry said the company is becoming a top mid-tier gold producer.
“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. This represents a significant step toward our unwavering vision of building a top of the class mid-tier gold producer. 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.”