SOURCE: Marching Moose Capital Corp.

December 01, 2017 19:36 ET

Marching Moose Capital Corp. completes Amalgamation and Qualifying Transaction with Avidian Gold Inc.

VANCOUVER, BC--(Marketwired - December 01, 2017) - Marching Moose Capital Corp. ("MMC.H") ("MMCC" or the "Company") (NEX BOARD: MMC.H) is pleased to announce that following receipt of final approval by the TSX Venture Exchange (the "Exchange"), it has completed its previously announced three cornered amalgamation (the "Amalgamation") with Avidian Gold Inc. ("Avidian"). MMCC Amalco Ltd, a wholly owned subsidiary of MMCC, and Avidian amalgamated to form a new entity to be called Avidian Gold Inc. which is wholly owned by MMCC. Pursuant to the terms of the Amalgamation set out in the amalgamation agreement between the parities, Avidian shareholders will receive one common share of MMCC for every 2.17 common shares of Avidian previously held (the "Share Exchange"). In connection with the Share Exchange, MMCC has issued an aggregate of up to 47,948,057 common shares and 3,432,604 share purchase warrants of MMCC to Avidian shareholders. Of these, 14,213,883 common shares of MMCC held by principals are subject to escrow restrictions in accordance with the rules of the Exchange.

Effective Monday, December 4, 2017 MMCC will change its name to Avidian Gold Corp. and will begin trading as a Tier 2 mining issuer on the Exchange under the symbol AVG. The Amalgamation, Share Exchange and the name and symbol change (collectively the "Transaction") constitutes the Company's Qualifying Transaction and as of resumption of trading, the Company will no longer be a capital pool company under the rules of the Exchange.

Completion of the Transaction has also resulted in the reconstitution of the Company's management and board of directors as follows: Dino Titaro, President, Chief Executive Officer and Director, Giulio T. Bonifacio, Chairman and Director, Victor H. Bradley, Director, David C. Anderson, Director, Jeff Mosher, Chief Financial Officer, Tom Setterfield, Vice President Exploration and Catherine Tanaka, Corporate Secretary.

As a result of the completion of the Transaction, the Company is now a junior mineral exploration company that holds a 100% interest in four advanced gold properties located in the USA: the Golden Zone and Amanita properties, situated in south–central Alaska, and the Jungo and Dome Hill properties located in Nevada. The Company also holds a 100% interest in the Strickland massive sulphide property located in Newfoundland, Canada.

The 59 sq km Golden Zone and 14.6 km Amanita properties lie within the prolific Tintina Gold Belt that hosts multi-million ounce gold deposits such as Donlin Creek (+39 Moz), Fort Knox (+8 Moz) and Dublin Gulch (+6 Moz). Both properties have well documented gold occurrences that trend over several kilometers in length and are easily accessible all year round by road access and are close to major infrastructure.

The Golden Zone property hosts a number of high grade gold surface occurrences and intersections (4 g/t Au to > 25 g/t Auplus Ag ± base metals) situated within a mineralized trend of +6 km, such as 67 m at 4.93 g/t Au and 13.7 m at 7.0 g/t Au, 94 g/t Ag and 4.0% Cu. The property also hosts a NI 43-101 Indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au) that is open at depth and along strike and is amenable to open-pit mining. The Amanita property is located approximately 5 km southwest and contiguous to the producing Fort Knox open-pit gold mine that is currently processing material less then 0.5 g/t Au. Mineralized structures at Fort Knox trend onto Amanita, where they host multiple shallow drill intersections >1.5 g/t Au, such as 13.7 m at 3.0 g/t Au and 4.5 m at 11.4 g/t Au.

The 20 sq km Jungo Property is situated within the Humboldt mineral trend that hosts the multi-million ounce Hycroft (+ 25 Moz) and Sleeper (+7 Moz) gold deposits. Historical work on the property has outlined a 5 km long gold-copper system that has been sparsely tested. Also in Nevada, within the Walker Lane Trend, is the Dome Hill property (6 sq km) which hosts at least six known high sulphidation vein systems that collectively cover a strike length totaling over 5 km. Dome Hill is in the same geological district as the Bodie (1.5 Moz) and Aurora (1.9 Moz) gold deposits.

The Qualified Person, as defined under National Instrument 43-101 for Avidian's projects is Dino Titaro, the President & CEO of the Company. Mr. Titaro, P.Geo is responsible for the preparation of all technical information provided in this news release and has reviewed and approved the contents of this news release.

Further information on the Amalgamation and the properties can be found in MMCC's filing statement and the 43-101 Technical Report on the Golden Zone Property which were posted to SEDAR at on November 20, 2017.

Investors are cautioned that, except as disclosed in the filing statement or other disclosure document to be prepared in connection with the Amalgamation, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

The TSX Venture Exchange Inc. has in no way passed judgement on the merits of the Transaction and has neither approved nor disapproved the contents of this press release.

All information contained in this news release with respect to MMCC and Avidian was supplied by the parties, respectively, for inclusion herein, and MMCC and its directors and officers have relied on Avidian for any information concerning Avidian.

Contact Information

  • For further information please contact:
    Dino Titaro
    President & CEO
    Marching Moose Capital Corp.
    Phone: (647) 283 7600