International Explorers and Prospectors Inc. signed a letter of intent to acquire China Goldcorp Ltd. (TSXV:CAU.H) in a reverse merger transaction.
The transaction is subject to requisite regulatory approval, approval of International Explorers Board and shareholders, obtaining financing, approval of the TSX Venture Exchange and standard closing conditions, including the execution of a definitive agreement, completion of due diligence investigations to the satisfaction of each of China Goldcorp and IEP, IEP must complete a private placement for minimum gross proceeds of CAD 1.5 million at an anticipated issue price of CAD 0.75 per FT Share. China Goldcorp is not required to obtain shareholder approval for the transaction.
As of December 18, 2013, International Explorers and Prospectors Inc. signed definitive agreement to acquire China Goldcorp Ltd. (TSXV:CAU.H) in a reverse merger transaction.
Corey MacKinnon of Heenan Blaikie LLP acted as legal advisor to China Goldcorp Ltd. Richard A. Pharand, Q.C. acted as legal advisor to International Explorers and Prospectors Inc.