Omni partnering with Ready Set Gold for 4400 hectare Hemlo land package

Omni Commerce Corp. has entered into a binding letter of intent with Ready Set Gold Corp. by way of a share exchange, merger, three-cornered amalgamation, arrangement, takeover bid, or other similar form of transaction which will result in Ready Set becoming a wholly-owned subsidiary of Omni.

"Omni is very pleased to be significantly expanding our team and exploration expertise with this Transaction which will greatly increase Omni's prospective land holdings by more than 4400 hectares in the Hemlo gold camp and bring in a strong mining-focused management group," stated John Veltheer, Omni CEO.

The precise terms of the Transaction, including the structure of the Transaction, will be incorporated into a definitive transaction agreement (the "Definitive Agreement") to be negotiated between the Parties.

About Ready Set Gold Corp.

Ready Set is a private issuer existing under the laws of the Province of British Columbia. The capital structure of Ready Set currently consists of 5,100,000 common shares (each, a "RS Share"). Ready Set currently owns a 100% undivided interest in and to two separate claim blocks totaling 4,453 hectares located 7 km east of Barrick's Hemlo Mine near Marathon, ON known as the Hemlo Eastern Flanks Project (the "Hemlo Project") and holds an option (the "Option") to acquire a 100% undivided interest in and to 71 mineral claim cells totaling 1,634 hectares comprising the Emmons Peak Project located 50 km south of Dryden, Ontario (the "Emmons Peak Project"). Both the Helmo Project and Emmons Peak Project are prospective gold properties.

 

Tags: Northern Ontario / Deals & Financial / Gold / All Articles