GOLD: Foundation, Wahgoshig First Nation amend Kerrs agreement

ONTARIO – Foundation Resources of Vancouver and the Wahgoshig First Nation have amended the memorandum of understanding with Sheltered Oak Resources covering solely the Kerrs gold property in the township of the same name. The changes allow Foundation to become a party to the agreement when it completes its acquisition of Sheltered Oak.

Foundation and Sheltered Oak entered into a non-binding letter of agreement in November 2012 whereby the two businesses will be combined. Foundation intends to issue 16.3 million of its own common shares for all of the outstanding shares of Oak.

Last November Foundation also made a non-binding offer for Solid Gold Resources. Again, this will be an all-share deal.

Read more about Foundation at FDNresources.com.