DLV RESOURCES LTD. AND WEST RED LAKE GOLD MINES INC. ANNOUNCE A MERGER AGREEMENT FOR A BUSINESS COMBINATION
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISTRIBUTION IN UNITED STATES OR TO A US PERSON/
VANCOUVER, BC, September 15, 2022 /CNW/ – DLV Resources Ltd. (“DLV“) (TSXV: DLV.H) and West Red Lake Gold Mines Inc. (“RLG”) (CSE: RLG) are pleased to announce that they have entered into a merger agreement pursuant to the previously announced binding agreement pursuant to which DLV has agreed to acquire all of the issued and outstanding common shares of RLG in consideration for the issuance of 0.1215 of a DLV ordinary share for each RLG ordinary share acquired (the “Transaction“).
RLG currently intends to hold a meeting of shareholders on November 10, 2022 in connection with obtaining the required shareholder approvals for the transaction.
The transaction is subject to customary closing conditions, including regulatory approvals, and the receipt of required RLG shareholder approvals.
ON BEHALF OF DLV RESOURCES LTD.
Chief executive officer
BEHALF RED LAKE WEST GOLD MINES LTD.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Canadian Securities Exchange has neither approved nor disapproved of the contents of this press release.
Certain statements contained in this press release constitute “forward-looking statements”. When used in this document, the words “anticipated”, “expected”, “estimated”, “forecast”, “expected” and similar expressions are intended to identify forward-looking statements or information. These statements are based on management’s current expectations, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements contained in this press release. Readers are cautioned not to place undue reliance on these statements. Neither DLV nor RLG undertakes to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
SOURCEDLV Resources Ltd.
For further information: DLV Resources Ltd. : Jasvir Kaloti, Chief Financial Officer and Secretary General, tel. : (604) 609-6110; West Red Lake Gold Mines Ltd. : John Kontak, president, tel. : (416) 203-9181