Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTC) announced in a news release it entered an agreement to acquire Golda Resources Inc., owner of the McKenzie East gold project located north of Val D'Or in Quebec. The deal will include the 46 claims across 1,676.25 hectares of claims on the property.
"We are extremely pleased to acquire this gold property in Val D'Or, which continues to expand our footprint in the Abitibi greenstone belt of Quebec," Black Tusk CEO Richard Penn said in the release.
Per the deal terms, Black Tusk will issue 5 million common shares to Golda's shareholders in exchange for all of Golda's common shares. Also, to fulfill Golda's obligation to issue $25,000 worth of shares to previous vendors of the property in the event of a liquidation, Black Tusk will issue 500,000 common shares to those entities.
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