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Canada One: update on strategic review

Published by , Assistant Editor
Global Mining Review,

The board of directors of Canada One Mining Corp. are in the process of completing a strategic review of the company's existing portfolio of assets, as well as evaluating potential new transactions in the blockchain and cryptocurrency sector.

In connection with the evaluation of new transactions, the company has extended the term of the letter of intent previously entered into with a privately held company developing blockchain based transaction verification systems. The extended term will allow for management of the company to finalise due diligence and to make a recommendation to the board of directors.

As a result of due diligence investigations completed to date, the company has also expanded the scope of the letter of intent to include a second potential facility in North America suitable for transaction verification in the blockchain and cryptocurrency sector.

In connection with the review of the company's existing property portfolio, the board of directors has conducted an analysis of legacy exploration data, and arranged for this data to be compiled for presentation to various geological consultants. A field reconnaissance programme is also under consideration for the company's assets in British Columbia, and would consist of geological mapping, as well as rock and core geochemical re-sampling. The company is also currently defining and evaluating a prospecting programme for the identification of new areas of interest on these properties which would include additional sampling.

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