On July 3, 2024, NexGold Mining Corp. (formerly Treasury Metals Inc.) completed its acquisition of all of the issued and outstanding common shares of Blackwolf Copper and Gold Ltd. pursuant to a plan of arrangement under the Business Corporations Act (British Columbia). Pursuant to the arrangement, former Blackwolf shareholders are entitled to receive 0.607 of a NexGold common share in exchange for each Blackwolf share held.
In connection with the transaction, NexGold completed a concurrent private placement of flow-through units for aggregate gross proceeds of approximately $6.4 million. Each flow-through unit consisted of one flow-through common share and one common share purchase warrant, each exercisable at a price of $0.35 per share until July 2, 2027.
Shortly following and in connection with the completion of the transaction, NexGold voluntarily delisted from the TSX and listed on the TSX Venture Exchange, continued from Ontario into British Columbia, changed its name from “Treasury Metals Inc.” to “NexGold Mining Corp.” and consolidated its outstanding shares on a 4:1 basis.
Cassels represented NexGold.