Loading ...MONTREAL, April 26, 2018 (GLOBE NEWSWIRE) — Sphinx Resources Ltd. (“Sphinx”) (SFX.V), Canada Strategic Metals Inc. (“Canada Strategic”) (CJC.V) and Matamec Explorations Inc. (“Matamec”) (MAT.V) are pleased to announce that Canada Strategic and Matamec have agreed to a business combination by way of court approved plan of arrangement (the “Arrangement”) to create a new James Bay-focused gold exploration company (to be named Quebec Precious Metals Corporation (the “Name Change”), herein referred to as “QPM”). In addition to and immediately prior to and conditional on the successful Arrangement, Canada Strategic will acquire Sphinx’s three (3) gold projects by way of an asset purchase, including the 50% interest of Sphinx in the Cheechoo-Éléonore Trend project and also the other 50% interest in such project held by Sirios Resources Inc. (“Sirios”) (SOI.V).
In connection with the Arrangement, Goldcorp Inc. (“Goldcorp”) will invest to acquire a 14% interest in QPM (Canada Strategic) under a subscription agreement executed as at the date hereof between Canada Strategic and Goldcorp whereby on or about June 18,
cont. https://finance.yahoo.com/news/strategic-investment-goldcorp-create-gold-110000457.html