Mr. Nav Dhaliwal reports
GATLING EXPLORATION INC. RECEIVES CONDITIONAL LISTING APPROVAL FROM TSX VENTURE EXCHANGE
Bonterra Resources Inc. spinout Gatling Exploration Inc. has received conditional approval of the listing of its common shares on the TSX Venture Exchange. In connection the listing, Gatling has filed on SEDAR its TSX-V listing application and a technical report regarding the Larder Lake property.Gatling expects to commence trading on the TSX-V under the symbol GTR next week. Gatling will provide an update once the listing date has been confirmed by the TSX-V.
The listing of Gatling follows the closing on Sept. 24, 2018, of a plan of arrangement between Bonterraand Metanor Resources Inc.Immediately prior to completion of the arrangement, all Bonterra shareholders of record on Sept. 21, 2018, received, for each Bonterra share held as of the record date, one-seventh of one common share of Gatling resulting in a total of 33,426,512 Gatling shares being issued.Gatling has received the transfer of certain Bonterra's assets, including the Larder Lake property and approximately $7-million in cash. Bonterra's obligations related to the Larder Lake property have now been assigned to and assumed by Gatling.
The directors and officers of Gatling are: R. Dale Ginn, director, president and chief executive officer; Navjit Dhaliwal, director and executive chairman; Richard Boulay, director; Leigh Hughes, director; Carrie Cesarone, director; and P. Joseph Meagher, chief financial officer and corporate secretary. The Gatling management team will use its broad base of exploration experience to focus exploration efforts on the Larder Lake property.
The Larder Lake property comprises patented and unpatented claims, leases and mining licences of occupation within the McVittie and McGarry townships area in Northern Ontario, with a total area of 2,095.56 hectares. All claims are now beneficially owned 100 per cent by Gatling. The Larder Lake property hosts the Bear Lake, Cheminis, Fernland and Swansea gold deposits that extend along 10 km of the Cadillac-Larder break between Kirkland Lake and Virginiatown. The land package sits along the prolific Cadillac/Larder break, located seven km west of the Kerr Addison mine, which produced 11 million ounces of gold.
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