Dual-listed Wallbridge Mining has entered into a definitive agreement with CSE-listed Archer Exploration through which Archer will acquire all Wallbridge’s nickel property, assets, rights and obligations, including the Grasset property, to create a publicly-traded nickel exploration and development company.
Archer is backed by Inventa Capital, a Vancouver-based merchant bank founded in 2017 with the goal of discovering and funding opportunities in the resource sector. The nickel assets consist of 2 046 mining titles covering about 67 000 ha and include a 100% interest in the Grasset nickel sulphide project located in Quebec.
Wallbridge says it will continue to focus on its core Detour-Fenelon Gold Trend properties while enabling shareholders to participate in the potential economic upside in Archer.
Archer says that the transaction will establish the company as a leading Canadian nickel sulphide-focused exploration and development company with assets in the established mining jurisdictions of Quebec and Ontario.
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