Labrador Gold Corp (TSE:LAB) has released an update.
Shareholders of Labrador Gold Corp. have given the green light for the sale of the Kingsway Project to New Found Gold Corp., with an approval rate of 87.8% during their latest meeting. The agreement details that Labrador Gold will receive $20 million CAD in New Found Gold shares, calculated based on the closing price before the transaction completes on July 9, 2024. The Kingsway Project, located near Gander, Newfoundland, boasts a significant potential for high-grade gold mineralization and is supported by robust local infrastructure.
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