Tillkännagivande • Feb 27
Barsele Minerals Corp. (TSXV:BME) completed the acquisition of Gold Line Resources Ltd. (TSXV:GLDL) for CAD 5.93 million. Barsele Minerals Corp. (TSXV:BME) signed a letter of intent to acquire Gold Line Resources Ltd. (TSXV:GLDL) on November 9, 2023. Barsele Minerals Corp. (TSXV:BME) entered into an arrangement agreement to acquire Gold Line Resources Ltd. (TSXV:GLDL) for CAD 5.93 million on December 12, 2023. Under the terms of the transaction, Barsele will acquire all of the issued and outstanding common shares of Gold Line, and the holders of the issued and outstanding Gold Line Shares will receive 0.7382 of a Barsele Share for each Gold Line Share. Post completion, shareholders of Barsele will own 80% and Gold Line shareholders will own 20% in the resulting issuer. In connection with the Transaction, Barsele proposes to undertake the Concurrent Price Placement to raise aggregate proceeds of approximately CAD 1 million through the sale of up to 6,700,000 subscription receipts of Barsele for CAD 0.15 per Subscription Receipt. The proceeds from the private placement will be used to fund exploration programs across the combined portfolio of the Resulting Issuer, costs related to the proposed Transaction, and for working capital and general corporate purposes. In connection with the completion of the Transaction, the Gold Line Shares will be de-listed from the TSXV, and following closing, Gold Line will make an application to cease to be a reporting issuer under Canadian securities laws. Under certain circumstances, if the Arrangement Agreement is terminated, Barsele would be entitled to a termination fee of CAD 400,000. The board of directors of the Resulting Issuer will comprised of five directors, including two nominees of Gold Line and three nominees of Barsele. Taj Singh will assume the role as President, Chief Executive Officer, and Director, will lead the combined management and project team of the Resulting Issuer. Benjamin Gelber of Gold Line will assume the role of Vice President, Exploration. The Resulting Issuer Board is expected to be made up of Gold Line directors Toby Pierce (Non-executive Chair) and Taj Singh and Barsele directors Gary Cope and Ross Wilmot, as well as new incumbent Marc Legault. The transaction is subject to the approval of the Gold Line shareholders, approval of the TSX, issuance of a final order by the British Columbia Supreme Court, and completion of the Concurrent Private Placement. The board of directors of Barsele and Gold Line has unanimously approved the transaction and is expected to close in February 2024. As of February 15, 2024, the transaction has been approved by the shareholders of Gold Line and is expected to be completed on or about February 23, 2024. The hearing for the final order of the Supreme Court of British Columbia to approve the Arrangement is scheduled to take place on February 20, 2024.PI Financial Corp. is acting as a financial advisor as well as a fairness opinion provider to Gold Line. Victor Gerchikov of Stikeman Elliott LLP is acting as legal counsel to Barsele and Sam Cole of Cassels Brock & Blackwell LLP is acting as legal counsel to Gold Line. Computershare Trust Company of Canada acted as registrar and transfer agent to Gold Line. Davidson and Company LLP acted as GLDL’s auditor in the transaction. Computershare Investor Services Inc. acted as depositary to Gold Line. As of February 20, 2024, the Supreme Court of British Columbia granted a final order in respect of the proposed arrangement. Barsele Minerals Corp. (TSXV:BME) completed the acquisition of Gold Line Resources Ltd. (TSXV:GLDL) on February 26, 2024. Tillkännagivande • Dec 14
Barsele Minerals Corp. (TSXV:BME) entered into an arrangement agreement to acquire Gold Line Resources Ltd. (TSXV:GLDL) for CAD 6.6 million. Barsele Minerals Corp. (TSXV:BME) entered into an arrangement agreement to acquire Gold Line Resources Ltd. (TSXV:GLDL) for CAD 6.6 million on December 12, 2023. Under the terms of the transaction, Barsele will acquire all of the issued and outstanding common shares of Gold Line, and the holders of the issued and outstanding Gold Line Shares will receive 0.7382 of a Barsele Share for each Gold Line Share. Post completion, shareholders of Barsele will own 80% and Gold Line shareholders will own 20% in the resulting issuer. In connection with the Transaction, Barsele proposes to undertake the Concurrent Price Placement to raise aggregate proceeds of approximately CAD 1 million through the sale of up to 6,700,000 subscription receipts of Barsele for CAD 0.15 per Subscription Receipt. The proceeds from the private placement will be used to fund exploration programs across the combined portfolio of the Resulting Issuer, costs related to the proposed Transaction, and for working capital and general corporate purposes. In connection with the completion of the Transaction, the Gold Line Shares will be de-listed from the TSXV, and following closing, Gold Line will make an application to cease to be a reporting issuer under Canadian securities laws. Under certain circumstances, if the Arrangement Agreement is terminated, Barsele would be entitled to a termination fee of CAD 400,000.
The board of directors of the Resulting Issuer will comprised of five directors, including two nominees of Gold Line and three nominees of Barsele. Taj Singh will assume the role as President, Chief Executive Officer, and Director, will lead the combined management and project team of the Resulting Issuer. Benjamin Gelber of Gold Line will assume the role of Vice President, Exploration. The Resulting Issuer Board is expected to be made up of Gold Line directors Toby Pierce (Non-executive Chair) and Taj Singh and Barsele directors Gary Cope and Ross Wilmot, as well as new incumbent Marc Legault.
The transaction is subject to the approval of the Gold Line shareholders, approval of the TSX, issuance of a final order by the British Columbia Supreme Court, and completion of the Concurrent Private Placement. The board of directors of Barsele and Gold Line has unanimously approved the transaction and is expected to close in February 2024. PI Financial Corp. is acting as a financial advisor as well as a fairness opinion provider to Gold Line. Stikeman Elliott LLP is acting as legal counsel to Barsele and Cassels Brock & Blackwell LLP is acting as legal counsel to Gold Line. Tillkännagivande • Oct 07
Gold Line Resources Ltd., Annual General Meeting, Dec 14, 2023 Gold Line Resources Ltd., Annual General Meeting, Dec 14, 2023. Tillkännagivande • Sep 27
Gold Line Resources Ltd Appoints Gernot Wober to Its Advisory Board Gold Line Resources Ltd. announced that Mr. Gernot Wober has been appointed to the Company's Advisory Board. Mr. Wober is a professional geologist (P. Geo.) and has over 32 years of international resource exploration experience. Mr. Wober is currently VP Exploration for Discovery Silver Corp. where he started in 2018, and in 2019 identified the Cordero silver deposit in Chihuahua, Mexico for acquisition. Previously, he served as VP Exploration, Canada, at Osisko Mining Inc. ("Osisko"), during which time he took part in several key mergers and acquisitions and led the team through the advancement of the Windfall gold deposit and the discovery of the new Lynx Zone. Other roles Mr. Wober has held include VP Exploration for Oban Mining Corporation, Director Of Site Operations for the Pebble project in Alaska with the Pebble Limited Partnership, VP Exploration for Great Basin Gold Ltd., and various exploration roles with Chevron Canada Resources Limited, Noranda Exploration Company Limited, and Taseko Mines Limited. Tillkännagivande • Sep 22
Gold Line Resources Ltd. announced that it expects to receive CAD 2 million in funding Gold Line Resources Ltd. announced a non-brokered private placement of up to 20,000,000 units at a price of CAD 0.10 per unit for proceeds of up to CAD 2,000,000 on September 21, 2023. Each unit will consist of one common share and one-half of one share purchase warrant. Each full warrant will entitle the holder to purchase one common share at a price of CAD 0.20 per common share for a period of twenty-four months from the date of issuance. As a part of the transaction, The company will pay a finder's fee of 6% on the gross proceeds of the transaction. All securities issued under the financing are subject to TSX Venture Exchange approval will be subject to a four month and one day hold period after the date of closing. Tillkännagivande • Sep 21
Gold Line Resources Ltd. Provides an Update on Exploration Activities on Its 100%-Owned Paubacken and Storjuktan Projects Located in the Gold Line Belt, Northern Sweden Gold Line Resources Ltd. provided an update on exploration activities on its 100%-owned Paubacken and Storjuktan projects located in the Gold Line Belt, northern Sweden. The summer 2023 exploration was designed to progress existing targets and identify additional targets through execution of systematic exploration programs consisting of regional till sampling and base-of-till /top of bedrock drilling. Program Overview. Paubacken: 1,181 meters ("m") in 71 BoT drill holes were completed at the Aida zone. These holes were designed to systematically test prospective structural corridors at the Aida target to define additional drill targets and increase the footprint size of anomalous 2021 and 2022 results. Logging of drill chips and assays of samples is underway. In addition, 3,050 regional B Horizon (below topsoil) till samples were collected covering 1,350 hectares ("ha") over a 12 kilometer ("km") strike length of the northern extent of the first order Gold Line Belt structural corridor and associated second-order structures within the Paubacken exploration permit. Results are pending. Storjuktan: 4,357 regional B Horizon samples covering approximately 2,000 ha over multiple untested structural corridors within the central portion of the 25,000 ha Storjuktan project area were completed to identify additional areas of hydrothermal anomalism and assess regional upside. Results are pending. BoT sampling: Two BoT samples from directly above the till bedrock interface and two bedrock samples within the top of bedrock are collected for all drill holes. All samples are screened with X-ray fluorescence ("XRF") and analysed using a multi-element suite at MSALABS in Storuman, Sweden. Glacial till geochemical sampling: All samples are collected from the glacial till-derived B Horizon soil layer and screened using handheld XRF for pathfinder elements. The sampling density was very high, every 20 m on 100 m spaced lines. Anomalous areas identified will be tested for gold ("Au") at an external laboratory in Fourth Quarter 2023. Paubacken 2023 Exploration Program. The 2023 exploration program at Aida was designed to step out on known mineralization and identify additional areas of hydrother mal alteration and mineralization along the structural corridor and develop additional targets for follow up. Follow up drilling in 2022 included 14.6 m of 2.5 g/t Au starting at 142 m depth in AID-2022-001 along the structure, 50 m down drip from the initial intercept. In addition, a regional till sampling survey was completed over the northern portion of the project area. The survey focused on the northern extension of the regional Gold Line first order structure corridor and associated second order splay structures within the Paubackan permit area. In total 3,050 regional B Horizon soil samples were collected covering 1, 350 ha over a 12 km strike length of the regional structural corridor. The objective of the program was to identify additional zones of anomalous hydrothermal alteration within the larger Paubacken project area for follow up investigation. The Paubacken Project consists of 3 licenses totaling 17,097 ha that cover the central part of an emerging district in north central Sweden known as the "Gold Line Belt". The Gold Line Belt is host to several significant gold deposits, including gold deposits, including gold and gold deposits. The Gold Line Belt is host of several significant gold deposits, including the gold deposits, including gold. 