- Brascan Gold (BRAS) and its subsidiary Brascan Aggregates have entered into a share exchange agreement with with North Atlantic Aggregates Inc. (NAAI)
- The company will acquire 25 per cent of the issued and outstanding shares of NAAI in exchange for 10,000,000 common shares of Brascan
- Balbir Johal, Director & CEO sat down with Sabrina Cuthbert to discuss the agreement
- Brascan is a Vancouver-based gold exploration company
- Brascan Gold Inc. (BRAS) opened trading at C$0.035 per share
Brascan Gold (BRAS) and its subsidiary Brascan Aggregates have agreed to acquire 25 per cent of the issued and outstanding shares of North Atlantic Aggregates Inc.
Under the terms of the agreement, claimholders have agreed to transfer their interests in 49 mineral claims to NAAI prior to the closing of the transaction.
Brascan will issue 10,000,000 common shares at a deemed price of $0.08 per share
Balbir Johal, Director & CEO sat down with Sabrina Cuthbert to discuss the agreement.
“We are very excited to diversify into critical minerals and aggregates. Our joint venture with NAAI is ideal given their large land package, aggregates experience and specific targets, already advanced by previous work. This acquisition will position Brascan as a world-class player in the global aggregates market.”
Brascan has agreed to incur $350,000 in exploration expenditures before the first anniversary of the agreement and $650,000 in exploration expenditures before the second anniversary of the agreement.
Brascan is a Vancouver-based gold exploration company. The company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC.
Brascan Gold Inc. (BRAS) opened trading at C$0.035 per share.
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