Concordia Resource Corp. (“CCN”) is refocusing its approach to creating shareholder value. The Company is changing its strategy from a uranium explorer to identifying and securing a more diversified portfolio of projects and commodity interests. Recent changes include new management and an enhanced board of directors. The focus is on growth through global M & A, investments and exploration. Concordia is also restructuring its approach to managing the risks associated with exploration and development. The Company is well financed and positioned to increase its capital base without further dilution.
May 6, 2011: The Company exercised 3,000,000 warrants of Western Lithium at an exercise price of $0.60 per share. CCN holds 28,540,393 shares of Western Lithium or approximately 29%.
April 5, 2011: The shares of Concordia Resource Corp. (formerly Western Uranium Corp.) commence trading on the TSX Venture Exchange under the symbol “CCN.V”
March 14, 2011: The Board of Directors of the Company has approved, subject to regulatory approval, a change of name of the company to Concordia Resource Corp.
March 11, 2011: The Company (CCN) completed the transaction for the sale of the royalties and titles constituting substantially all of the Kings Valley mineral property holdings in Nevada for Cdn$6.85 million to Western Lithium USA Corporation (WLC) paid through the issue to CCN of 5,855,000 WLC common shares.
March 7, 2011: The Company’s wholly owned subsidiary, Meryllion Minerals Corporation, has acquired an option to purchase the Providencia silver-copper prospect located in the Puna of northwestern Argentina.
Dec. 22, 2010: CCN announced the appointment of R. Edward Flood as Chairman, President and Chief Executive Officer, effective December 31, 2010.
Oct. 26, 2010: CCN announces the incorporation of Meryllion Minerals Corporation, a wholly-owned subsidiary, created to undertake exploration programs in, and to acquire an interest in, South American properties, with an emphasis on Argentina, Brazil and Peru.
A New Model For Managing Risk
Meryllion Minerals Corporation, a wholly-owned subsidiary, was created by the Company to undertake exploration programs in, and to acquire an interest in, South American properties, with an emphasis on Argentina, Brazil and Peru.
Concordia’s management believe that Meryllion Minerals can acquire and effectively manage a number of earlier stage exploration projects in South America. This approach effectively increases the Company’s exposure to opportunity and success within the region while managing the risks associated with exploration.