Northern Tiger Resources and Redtail Metals Corp. announced that at their respective special meetings held on February 21st, the shareholders approved the merger of the two companies and approved the acquisition of Americas Bullion Royalty Corp's (AMB) Brewery Creek Project in the newly merged company.
According to a release, 98.38 percent and 97.85 percent respectively from NTR and RTZ eligible votes received were in support of the merger and acquisition.
The companies will be brought together by Northern Tiger acquiring all the outstanding shares of Redtail Metals. On completion of the merger, each RTZ Shareholder will receive from NTR, one NTR common share in exchange for every seven RTZ Shares held.
The terms of the Northern Tiger and Redtail Merger include the acquisition by Northern Tiger of the Brewery Creek Project and other Yukon assets from AMB and a $2.25 million investment by AMB in the merged company. Northern Tiger will be the surviving entity upon completion of the Merger and will be renamed Golden Predator Mining Corp.
On December 17, 2013, Northern Tiger announced it agreed to acquire the Brewery Creek Project and other assets from AMB for an aggregate purchase price of $5,250,000 and the grant by the Company of a royalty interest in each of its properties held at closing. Concurrent with the merger, AMB would commit an additional $2,250,000 by private placement to further fund the Company. More detailed terms of the agreement with AMB can be found in the December 17, 2013 news release.
The Acquisition is part of a reorganization of AMB whereby AMB will become a subsidiary of Resource Holdings ("RH"), a Bermuda company. The Acquisition is subject to the receipt of AMB shareholder approval at a special shareholder meeting expected to be held on March 28, conditional listing approval of the TSX-V to list the RH shares on the TSX-V, non-objection from the Bermuda Monetary Authority, and the receipt of any other required approvals under AMB's reorganization. AMB's reorganization is anticipated to take place on or about April 1.
Redtail Metals Corp. specializes in acquiring and developing quality precious metal enriched copper, lead and zinc mineral deposits.
Northern Tiger Resources is an incorporated resource exploration company.
Americas Bullion Royalty Corp. invests in undervalued natural resource assets.
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