An amalgamation agreement has been signed between Moss Resources (ME) and Power Explorations (TSE) to form Moss-Power Resources (TSE). Under the terms of the agreement, which requires shareholder approval, Power shareholders will receive one share of the new company for each Power share. Moss shareholders will receive 1.5 shares of the new company for each share held.
Power has also sold its 50% interest in the Karl-Zeemel and Norman Lake gold properties in Ontario to Golden Tanager Resources (COATS). Power received 1.87 million Tanager shares which represent 40% of the company’s issued shares.
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