A new company is to be formed, combining some of the gold and lithium properties held by Wrightbar Mines (ME) and Charlim Resources (VSE).
Wrightbar shares will be consolidated on a 2-for-1 basis, after which shares in the two companies will be combined on the basis of 2.6 Charlim shares to one Wrightbar share.
Information concerning the proposed transactions will be mailed to shareholders, and a meeting to decide on the merger will be held Oct. 26. If the transaction is approved, the new corporation (to be called Lithos Corporation) will complete a $3.2-million flow-through financing. Most of the funds raised will be used to explore and complete metallurgical testing on a 15,000-20,000-tonne bulk sample from the Bourlamaque Nord gold property in northern Quebec.
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