On April 6, 2015, the Company has entered into a Letter of Intent whereby it will sign a definitive agreement to acquire 100% of Flex Mining through the issuance of 2,000,000 restricted shares, a $10,000 promissory note payable within six months to the owners of Flex Mining Ltd., and by a capital expenditure of up to $1,000,000 over three years on the Big Monty Claims. Flex Mining Ltd. owns 100% of six claims named the Big Monty Claims in the historic Abitibi Greenstone Belt. This earn-in agreement is subject to the Company reverse splitting the shares on the basis of one new share for every 200 existing shares and changing the name of the Company to Gold Lakes Corp.
don't know if this LOI is happening or not still reading. sounds like maybe a merger/acquisition see a 1 for 200 in there if it happens but lately that doesn't seem to be stopping speculation in some of these microcaps. guess it depends on the assets coming in. but the o/s is 45m that would put this at 2.2m float or less?? post r/s
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.