GAMA EXPLORATIONS Signs LOI to Acquire Tyee Nickel Corp.
VANCOUVER, BC – TheNewswire - September 12, 2022 - Gama Explorations Inc. (CSE:GAMA) (“Gama” or the “Company”) is pleased to announce that it has entered into a binding Letter of Intent with Tyee Nickel Corp. (“Tyee”) regarding the acquisition of the issued and outstanding shares of Tyee (the “LOI”).
Pursuant to the LOI the Company will purchase all of the issued and outstanding common shares of Tyee (the “Shares”) from the shareholders of Tyee (the “Shareholders”) in exchange for 9,000,000 common shares of the Company. Upon closing, all of the rights, title and interest of the Shareholders in and to the Shares will transfer to the Company and the Company shall appoint a nominee of Tyee to the board of directors. The Company and Tyee are currently engaged in due diligence and expect to complete a definitive agreement formalizing the final terms of the transaction in the coming weeks.
Tyee is a British Columbia incorporated company and the owner of the Gatineau Nickel-Copper Project (the “Property”), consisting of mineral claims prospective to nickel-copper located north of Havre St. Pierre, Quebec. The Property claims consist of 152 claims totaling 81,000 square metres and were staked based on highly anomalous nickel and copper values in samples of lake sediments to the east nickel and copper claims that are actively being drilled. The claims overlap similar bedrock contacts and geophysical features as known mineral occurrences in the region. A large magnetic anomaly in the center of an anorthosite intrusion could represent a feeder to the surrounding anorthosite is a priority target for sulphide fluid mineralization.
About Gama Explorations Inc.
Gama is a Canadian company listed on the Canadian Stock Exchange (CSE: GAMA). The Company is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of copper. The company currently has the right to acquire 100% interest in the property known as the Big Onion Project located a short 20-minute drive from the town of Smithers in northern British Columbia. The Company’s objective is to explore and, if warranted, develop the Big Onion Property. It is the intention of the Company to remain in the mineral exploration business. The Company will evaluate opportunities to acquire interest in additional exploration stage mineral properties.
ON BEHALF OF THE BOARD,
Allan Larmour | President and Director
This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of the Company. Forward-looking statements include, but are not limited to, the execution of a definitive agreement with Tyee and the closing of the proposed acquisition of Tyee. The words “expected”, “will” and similar expressions are intended to be among the statements that identify forward-looking statements. Although the Company believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions or other factors should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.