TORONTO – Oban Mining Corp. is launching a supported share exchange takeover of Eagle Hill Exploration, Temex Resources, Ryan Gold, and Corona Gold. The combination of these five companies will be known as "New Oban".
Also, Oban has agreed to make a private placement of 181.8 million shares at a price of $0.11 each to Osisko Gold Royalties of Montreal. Osisko has agreed to provide up to $20 million for to bring its interest to not more than 19.9% of New Oban in return for first rights to participate in royalties and streams created by New Oban. Osisko will nominate three directors to the New Oban board, that will be co-chaired by Sean Roosen and Ned Goodman.
The new company will have an impressive list of gold exploration and advanced exploration projects in Ontario, Quebec, Yukon and Peru.
New Oban will be headquartered in Montreal with a Toronto corporate office. Exploration, engineering and administrative services will be provided by Osisko.
For particulars of the offer, please visit ObanMining.com.