Barsele and Gold Line to create Scandinavian gold exploration company
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Barsele Minerals Corp. and Gold Line Resources Ltd. have announced that they have entered into an arrangement agreement, dated 12 December 2023, pursuant to which Barsele will acquire all of the issued and outstanding common shares of Gold Line in exchange for common shares of Barsele by way of a plan of arrangement.
The Transaction will create a combined company with a leading gold portfolio underpinned by the advanced stage Barsele gold project currently being advanced by Barsele in partnership with Agnico Eagle Mines Limited.
The Transaction will consolidate a large and prospective gold exploration portfolio in Sweden and Finland; this includes a district-scale property package situated on the prolific Gold Line Mineral Belt in Sweden, totalling over 104 000 ha., and the Oijärvi gold project located in the Oijärvi Greenstone Belt of Finland.
Gary Cope, President and CEO of Barsele, commented: “This Transaction is a unique opportunity to bring together complementary assets and teams to create a leading gold company with a district-scale focus in Scandinavia. Barsele is delighted to welcome Taj Singh as the new President and CEO and Toby Pierce as Chair following closing. The leadership changes and acquisition of Gold Line’s district-scale exploration portfolio and the Oijärvi Project allows the creation of a larger, stronger and more diversified company with improved access to capital and one of the largest gold exploration portfolios in Scandinavia.”
Taj Singh, President and CEO of Gold Line, added: “We are very pleased to be combining with Barsele. The Barsele team has done a tremendous job advancing the Barsele Project from an exploration stage project to a joint venture with Agnico. This combination gives Gold Line shareholders a more immediate re-rating and return potential through the advanced stage Barsele Project, while maintaining exposure to the new discovery potential across our district-scale gold exploration portfolio.”
Read the article online at: https://www.globalminingreview.com/finance-business/19122023/barsele-and-gold-line-to-create-scandinavian-gold-exploration-company/
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