Explor Announces Completion of Amalgamation with Pure Nickel (Now Galleon Gold Corp.)
ROUYN-NORANDA, Quebec, Dec. 23, 2019 (GLOBE NEWSWIRE) — Explor Resources Inc. (“Explor” or the “Corporation“) (TSX-V: EXS, OTC PK: EXSFF, FSE & BE: E1H1) is pleased to announce that it has completed its previously announced business combination with Galleon Gold Corp (“Galleon Gold”)(symbol: TSXV – “GGO”)(formerly Pure Nickel Inc).The transaction was accomplished by a three-cornered amalgamation. The amalgamation agreement was filed on SEDAR on November 12, 2019. Explor amalgamated with 2227390 Alberta Ltd. (a wholly owned subsidiary of Galleon Gold) to form GGO Gold Corp. In connection with the Amalgamation, Galleon Gold issued 95,198,612 common shares of Galleon in exchange for all of the 190,397,224 issued and outstanding shares of Explor (excluding the 10,000,000 common shares owned by Galleon Gold). GGO Gold Corp will remain a wholly owned subsidiary of Galleon. It is expected that the common shares of Explor will be halted and then delisted from trading on the TSX Venture Exchange and on other capital markets. The Explor options holders and warrants holders will be entitled to exercise their rights into Galleon Gold common shares at the conversion rate as established in the Amalgamation agreement. Explor debentures which were convertible into Explor common shares will be convertible into Galleon Gold common shares at the established conversion rate.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTC PK (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.For further information please contact: