The Board believes that the proposed share consolidation is necessary to facilitate new equity investment in the Company to finance continuing business activities and assist in its overall marketing efforts.
Silver Viper’s President and CEO Steve Cope states, “We are extremely happy with this new achievement in the Company’s development as we look forward to expanding our reach into the U.S. Capital Markets. The OTCQB platform will enable Silver Viper to access a larger investor base and subsequently lead the Company to increased liquidity and shareholders.”
Pursuant to the terms of the indenture governing the Existing Notes, New Gold will issue a conditional notice of redemption to redeem the outstanding Existing Notes, which redemption will be conditional upon the successful completion of the offering of the Notes.
Evrim’s President & CEO Paddy Nicol stated, “The combination of Evrim and Renaissance to form Orogen Royalties Inc. is an important and exciting milestone on the path towards creating an enlarged royalty portfolio with exceptional capability to generate additional royalties through organic prospect generation and joint venture partnerships.
The Company has also finalized initial plans for the Phase 3 drill program which will commence shortly following the resumption of post-covid mining activities in Mexico. Current plans call for an additional 20-25 holes at Nicho totaling approximately 4000m as well as the Company’s first drill holes at the Zata and Gold Ridge targets in addition to the recently identified Bufita target.
The initial exploration program will consist of a team of 4 geologists and technicians completing reconnaissance prospecting and geological mapping.
Greg Crowe, President and CEO commented: “The most intriguing aspect about Cherokee is the increasing number of new mineralized discoveries along with our evolving understanding of the various styles of mineralization hosted within the property. Every field season yields additional targets and continues expanding the upside potential of this already robust silver-gold-copper prospect.”
Aztec CEO, President and Chief Geologist Joey Wilkins commented, “Aztec and Kootenay plan to review shortly the first exploration program needed to target both the near-surface oxide gold mineralization as well as the deeper sulfide porphyry gold-copper potential at California. We have also received expressions of interest from major companies about the possibility of earning into the Cervantes joint venture and will consider the merits of any offers.”
While exploration and mining in Mexico have been hampered by suspensions and slowdowns of operations due to the COVID-19 pandemic, the country will get through this challenge and gradually resume normal operations.
The president then urged Canada’s ambassador to prevail on the companies that there was no need to seek legal redress because “it’s very clear that they have these debts with the tax authority, and that (Canada) help us to convince them.”
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