Coco Pool Corp. is pleased to announce that, further to its news release dated May 27, 2024, it has entered into a definitive amalgamation agreement dated July 31, 2024 with Viridian Metals Corp. and 16217494 Canada Inc., a wholly-owned subsidiary of Coco incorporated pursuant to the provisions of the Canada Business Corporations Act, all in connection with a proposed three cornered amalgamation of Coco, Coco Subco and Viridian under the CBCA, which transaction is intended to constitute Coco’s Qualifying Transaction (within the meaning of Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange.

After giving effect to the Transaction, it is expected that the Resulting Issuer will carry on the business of Viridian and the shareholders of Viridian  will collectively exercise control over the Resulting Issuer. Completion of the Transaction is subject to, among other things, receipt of all necessary regulatory and shareholder approvals. It is expected that upon completion of the Transaction, the Resulting Issuer will be listed as a Tier 2 Mining Issuer on the Exchange.

About Viridian:

Viridian was formed upon incorporation pursuant to the provisions of the CBCA on February 28, 2022 and has its registered and head office in Almonte, Ontario.

The Company is engaged in the evaluation, acquisition and exploration of mineral properties in Canada. The Company plans to ultimately develop the properties, bring them into production, option or lease the properties to third parties, or sell the properties outright.

The Kraken Project is in the west-central part of Labrador in the Province of Newfoundland and Labrador, Canada. It lies on the northeast shores of the Smallwood Reservoir approximately 90 kilometres north of Churchill Falls centered at approximate 54.3538, North Latitude, 63.8448 West Longitude. The Kraken Project consists of three continuous mineral Licenses composed of 731 mineral claims that cover a total area of 182.75 square kilometers on 1:50,000 scale NTS map sheets 13L/04, 13L/05, and 13L/12.

The Sedna property consists of 2 mining licenses located near Happy-Valley-Goose Bay, Labrador. It covers an area of approximately 8.0 km2 in the two claim groups (north 0.5 km2 and south 7.5 km2).

 

Source: globenewswire.com

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