Labrador Gold Corp (TSE:LAB) has released an update.
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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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