By merging with Bradner Resources (VSE), Akiko-Lori Gold Resources (VSE) hopes to gain control of a major interest in Gold Canyon Resources (VSE). Akiko-Lori is offering to acquire all the outstanding shares of Bradner on the basis of one Akiko share for two Bradner shares.
Bradner has 2.2 million shares outstanding and owns two million shares of Gold Canyon. At last report, Gold Canyon had about 2.9 million shares outstanding.
Akiko-Lori views Gold Canyon’s Blue Dog gold property in Idaho as being highly prospective with a preliminary reserve of three million tons grading 0.05 oz. gold per ton.
Noranda is financing an exploration program on the property by purchasing treasury shares from Gold Canyon and plans to begin a program shortly.
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