Kilkenny Capital Corporation
TSX VENTURE : KIK.H

Kilkenny Capital Corporation

July 17, 2015 13:58 ET

CORRECTION FROM SOURCE/Kilkenny Capital Corporation: Merger With DNA Canada Inc. for Qualifying Transaction

LAVAL, QUEBEC--(Marketwired - July 17, 2015) -

This document corrects and replaces the press release that was sent today at 11:58 a.m. EDT

Kilkenny Capital Corporation (the "Corporation" or "Kilkenny") (TSX VENTURE:KIK.H) is pleased to announce that a letter of intent has been agreed on July 10, 2015 by the majority of the shareholders of DNA Canada Inc. ("DNA") to merge with DNA for the exploitation of the assets of the Montauban property. The transaction shall constitute its qualifying transaction within the meaning of the TSX Venture Exchange's policies. Concurrently with the completion of its Qualifying Transaction, the Corporation intends to make a private placement of a minimum of $2,000,000 with many investors.

DNA Canada Inc. has secured the Montauban Property which is composed of 122 mining claims, one mining lease and one mining concession totaling 4,183 hectares, located in the Montauban-les-Mines sector of the Notre-Dame-de-Montauban municipality, in the Montauban Township, Portneuf County, Province of Quebec, Canada. DNA is focused on near term production of the Montauban gold silver tailings. DNA implements the final plans of the mill for the extraction process of the industrial and precious metals, such as gold, silver and mica. Certain processing equipment has been purchased by DNA and is being stored nearby the mining property. In addition, DNA has completed construction of all access roads to and from the new milling facility. The newly erected milling facility consists of an industrial steel structure building totaling 16,000 square feet. The power line source to the milling facility totaling 1.3 kilometers has also been completed., DNA has the required permits to operate a commercial scale production for the processing of the mining residues.

Accordingly, Kilkenny has required a halt in the trading of its securities. A detailed press release will be disclosed later.

Neither TSX Venture Exchange/NEX nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange/NEX) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • For the Corporation:
    Marcel Bergeron
    President and Chief Executive Officer
    (514) 232-3344

    For DNA Canada Inc. :
    James Chandik
    President & Chief Executive Officer
    (514) 852-2111