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An announcement from Mineral Road Discovery ( (TSE:ROAD) ) is now available.
Mineral Road Discovery Inc. has agreed to acquire an additional 2,000,000 shares of Golcap Resources Corp., increasing its stake in the gold exploration company by 6.2%, through the issuance of 5,000,000 units priced at a deemed $0.10 per unit, each comprising one common share and a two-year warrant. The deal, structured as a related-party transaction involving a company controlled by director Damien Reynolds and with overlapping board representation via director Garry Stock, is proceeding under exemptions from formal valuation and minority approval rules, remains subject to Canadian Securities Exchange filing and approval, and will see the newly issued securities subject to a four-month hold period, underscoring Mineral Road’s deepening strategic exposure to gold exploration while navigating minority shareholder protection requirements.
More about Mineral Road Discovery
Mineral Road Discovery Inc. is a Canadian-listed company on the Canadian Securities Exchange that invests in and partners with resource exploration businesses, with exposure to gold-focused projects through holdings such as Golcap Resources Corp., a Canadian exploration company targeting gold assets in politically stable, resource-friendly jurisdictions.
Average Trading Volume: 52,623
Technical Sentiment Signal: Sell
Current Market Cap: C$2.88M
For an in-depth examination of ROAD stock, go to TipRanks’ Overview page.