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CALGARY, ALBERTA--(Marketwired - Jan 5, 2015) - Golconda Resources Ltd. (TSX VENTURE:GA) (the "Corporation" or "Golconda") announces that its wholly-owned subsidiary, Golconda Gold, Inc. has disposed of an aggregate of 17 "RV" unpatented lode mining claims and associated data situated in Nye County, Nevada (the "Assets") to Mountain Gold Claims, LLC, Series 27 ("Mountain Gold") (the "Disposition"). As consideration for the Disposition, Mountain Gold granted Golconda Gold a royalty equal to 1% of the Net Smelter Return received from the sale of minerals produced from the Assets. Mountain Gold is controlled by Thomas Callicrate, a director of the Corporation. Together, Thomas Callicrate and Mountain Gold hold less than 0.1% of the issued and outstanding shares of the Corporation. Golconda has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the Disposition (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization). 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.
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Golconda Resources Ltd
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EXPLORATION STAGE |
CODE : GA.V |
ISIN : CA38046F1027 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golconda Res. is a silver and gold producing company based in Canada. Golconda Res. holds various exploration projects in Canada. Its main exploration properties are SOUTH MONITOR, 4 ACES, WAPAWEKKA, SHULIN LAKE, RALSTON VALLEY, MERGE, MONITOR FLAT, ENNIS LAKE, SHULIN LAKE and WAPAWEKKA WEST in Canada. Golconda Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 3.3 millions as of today (US$ 2.7 millions, € 2.5 millions). Its stock quote reached its lowest recent point on July 10, 2015 at CA$ 0.01, and its highest recent level on September 22, 2021 at CA$ 1.20. Golconda Res. has 133 509 992 shares outstanding. |