Siga Resources, Inc. (OTCPK:SGAE) signed a letter of intent to acquire Gold Lakes Corp for $0.03 million in stock on November 25, 2014. Siga Resources will issue 25 million shares in consideration. After the completion of the transaction, Gold Lakes will become a wholly owned subsidiary of Siga Resources.

Siga Resources would also effect a name change to Gold Lakes Corp, a ticker change, a 200:1 reverse split, and commit to $1 million in financing over the next three years. The definitive agreement is expected to be entered into by December 31, 2014.