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May 4, 2021

Golden Predator calls off deal to acquire Viva Gold

Golden Predator Mining and Viva Gold have mutually agreed to terminate the agreement for its proposed acquisition of Viva Gold.

Golden Predator Mining and Viva Gold have mutually agreed to terminate the agreement for its proposed acquisition of Viva Gold.

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2022: So far In Venture Capital

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Signed in early March this year, Golden Predator agreed to acquire all issued and outstanding shares of Viva Gold, with an aim to create a premier junior gold producer.

The deal was expected to consolidate Viva Gold-owned advanced stage Tonopah Gold Project in Nevada, US, and Golden Predator’s formerly operating Brewery Creek Gold Mine in the Yukon, Canada.

In a press statement, Viva Gold said: “The tabulation of proxies and voting instructions submitted confirmed that a majority of shareholders who voted, voted for the arrangement, but this total did not meet the supermajority hurdle required.”

Viva plans to continue to advance the exploration and development of the Tonopah Gold Project, which comprise approximately 8,800 acres of land with potential for high-grade measured, indicated and inferred gold resources.

Despite the terminated agreement, Golden Predator said that it will proceed with its plan to issue 8.62 million common shares of C2C Gold to the company’s shareholders.

Golden Predator will now work on securing renewed mining and water usage licences from the Yukon Department of Energy, Mines and Resources, as well as the Yukon Water Board for the Brewery Creek project.

The company is seeking ten-year extensions to the mining and water usage licences, which are due to expire on 31 December 2021.

Located 55km by road from Dawson City, Yukon, the Brewery Creek brownfields heap leach gold mine was operated by Viceroy Minerals from 1996 to 2002.

In 2002, the mine was put into temporary closure following a gold price collapse.

Golden Predator, however, started work on the project in 2009.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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