TORONTO, Dec. 9, 2020 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSX.V: ORX) is pleased to announce
that American Eagle Gold Corp. ("AEG") (previously named Pacific
Precious Inc.) has targeted its listing date on the TSX Venture
Exchange and IPO financing for the first quarter of
2021.
As a part of AEG's listing process, Orefinders shareholders will
receive a dividend in the form of AEG shares currently owned by
Orefinders. The dividend ratio and the record date for distribution
of these dividend AEG shares will be determined and news released
in the near term. The going public transaction will be completed by
way of a statutory arrangement of Orefinders and remains subject to
certain conditions, including approval from Orefinders'
shareholders, court approval of the arrangement and approval of the
TSX Venture Exchange.
Upcoming Financing for American Eagle Gold
AEG will
be conducting a financing which will close concurrently with its
listing on the TSX Venture Exchange. Accredited investors
interested in participating in American Eagle Gold's financing
should contact us at the email below.
American Eagle Gold's Focus: Cortez Trend of
Nevada
AEG is focused on exploring its Golden Trend Property
located within the Cortez Trend in Nevada. Golden
Trend is situated adjacent to Nevada
Gold Mines' (Barrick Gold
& Newmont's joint venture company) Goldrush deposit.
Golden Trend spans 2,286 acres and
shares similar geology to the Goldrush deposit; however, it has
seen limited exploration to date and is therefore considered an
early exploration stage opportunity within this highly productive
environment.
Click here to view American Eagle Gold's Corporate
Presentation
Click here for a map of American Eagle Gold's Golden Trend
Project
Nevada remains one of the world's most prolific gold districts,
ranking 6th in the world for gold production. The shift
in corporate strategy minimizes political risk, while the
property's location on the Battle
Mountain-Eureka trend,
proximal to the prolific Cortez and Goldrush mines, maximizes
exploration potential. In addition to its Nevada focus, AEG is
currently evaluating and looking to build its asset portfolio in
other highly prospective Western
USA regions.
About Orefinders Resources Inc.
Orefinders is a Gold
exploration and development company focused exclusively within the
Abitibi Greenstone Belt. The Company is listed on the Toronto
Venture Exchange under the symbol ORX.
Neither 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. Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Orefinders' assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Orefinders. Additional information identifying risks
and uncertainties is contained in filings by Orefinders with
Canadian securities regulators, which filings are available under
Orefinders' profile at www.sedar.com.
SOURCE Orefinders Resources Inc.