Peterson McVicar acts for Magna in Definitive Agreement for Proposed Qualifying Transaction
On October 11, 2018 Magna Gold Corp. (“Magna” or the “Company”) announced it had entered into an arm’s length option agreement (the “Agreement”) with Beatriz Delia Yepiz Fong (the “Seller”). Pursuant to the Agreement, the Corporation will acquire from the Seller an option (“Option”) to acquire a 100% undivided interest (the “Proposed Transaction”) in two mining claims located in Sonora, Mexica, for a four-year period. The Proposed Transaction will constitute the Corporation’s qualifying transaction (the “Qualifying Transaction”) pursuant to TSX Venture Exchange Policy 2.4 – Capital Pool Companies.
Magna principally identifies and evaluates assets or businesses view to potentially merging or acquiring an interest therein.
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