On August 20, 2024, Mayo Lake Minerals Inc. (CSE: MLKM) announced the outcomes of its Annual & Special Meeting held on August 15 in Carp, Ontario. The Meeting, chaired by Dr. Vern Rampton, President & CEO, saw the re-election of directors and approval of various corporate matters, including the continuation of the Option Plan and RSU/DSU Plan.
Following the Meeting, Dr. Rampton updated shareholders on the progress of Mayo’s merger with WestMountain Gold, Inc., expected to close in the next two quarters along with a $7.5M private placement. The funds from the placement will be utilized for an aggressive drill plan to expand the estimated 1.9M ounce gold resource at WestMountain’s Terra Gold Project.
Mayo Lake Minerals Inc. is actively involved in the exploration and development of four precious metal projects in the Yukon’s Mayo Mining District. Meanwhile, WestMountain Gold, Inc. is focused on exploring and developing its advanced-stage Terra Gold Project in Alaska. Both companies have proposed a merger.
For further information, interested parties can reach out to Vern Rampton, Ph.D., P.Eng., President, CEO, Chairman, Darrell Munro, BB.A, LL.B Corporate Administrator, or Lee Bowles, Director, using the contact details provided in the original report.
The news release contains forward-looking statements and information, cautioning readers against undue reliance on such statements due to inherent risks and uncertainties. The contemplated transaction between Mayo and WestMountain is non-binding, and there is no assurance of its occurrence or the ability of Mayo to raise necessary capital for the transaction.
The information shared in this news release is current as of the release date and may not be updated in the future. The Canadian Securities Exchange and its Market Regulator do not accept responsibility for the accuracy of the release.
This press release should not be distributed to news wire services or disseminated in the United States of America. For more details, please refer to the source version of this press release on the Mayo Lake Minerals Inc. website.
