New Ring of Fire acquisition agreement, Ontario

Share this article

Bold Ventures Inc. [BOL-TSXV; BVLDF-OTC] reports that KWG Resources Inc. [KWG– CSE; KWGBF-OTC; KW6-FSE] and Fancamp Exploration Ltd. [FNC-TSXV have jointly announced an acquisition agreement whereby KWG will acquire the Fancamp interests in the Koper Lake Project located in the Ring of Fire region of Northern Ontario.

Among other terms, KWG will issue to Fancamp a secured convertible promissory note in the principal amount of C$34.5 million. Under the terms of Bold’s Joint Venture Agreement with Fancamp, Bold holds a Right of First Refusal on any proposed acquisition of the Fancamp Koper Lake interests. Bold holds a 10% carried interest in chromite and a 40% working interest in all other metals found within the claims. Bold Co-Venturer, a wholly owned subsidiary of Dundee Corp., has earned a one-third interest in Bold’s Ring of Fire assets.

Bold is exploring properties located in active gold camps within the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of northern Ontario.


Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *

×