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Yukon Gold Corporation, Inc. (OTCMKTS:YGDC) has entered into a Letter of Intent with Mojave Gold Corporation to acquire Mojave’s 23 percent interest in the Guyana Platinum Project in South America. Presently, exploration permits for the project cover 3.3 million acres in Guyana with rights to convert to 10 Prospecting Licenses.
Yukon Gold Corporation, Inc. (OTCMKTS:YGDC) has entered into a Letter of Intent with Mojave Gold Corporation to acquire Mojave’s 23 percent interest in the Guyana Platinum Project in South America. Presently, exploration permits for the project cover 3.3 million acres in Guyana with rights to convert to 10 Prospecting Licenses.
As quoted in the press release:
Consideration for the purchase is to be 20,000,000 post roll back common shares of the Company. The LOI contemplates that 15,000,000 post roll back common shares will be delivered directly to Mojave’s shareholders on a pro-rata basis and the balance of 5,000,000 post roll back common shares will be delivered to two creditors of Mojave to settle an existing lawsuit. The lawsuit has now been dismissed without prejudice. It is a condition of the LOI that an initial financing of USD$600,000 be completed by the Company on or before the closing of the transaction. In addition to the LOI, the Company has an agreement to purchase the 77% interest in the Guyana Platinum Project held by GlobalMin LLC’s (“GlobalMin”) The Company announced this agreement in a press release on March 24, 2014. The two agreements are designed to give the Company the ability to acquire 100% ownership of Guyana Platinum Project.
Click here to read the Yukon Gold Corporation, Inc. (OTCMKTS:YGDC) press release