Valorem Resources Inc is pleased to announce that it has entered into and closed a share exchange agreement with Regency Mining Limited a private arm’s length company incorporated under the laws of Seychelles, and each of the shareholders of Regency (collectively, the “Regency Shareholders”), pursuant to which it has acquired all of the issued and outstanding common shares (collectively, the “Regency Shares”) in the capital of Regency.
About Regency Mining Limited
Regency owns a 99.43% interest in Casa Mining Ltd. (“Casa”), a private arm’s length company incorporated in April 2009 under the laws of Mauritius, and, indirectly through its ownership of Casa, owns a 73.84% interest in Leda Mining Congo S.A (“Leda”), a private arm’s length company incorporated in July 1998 under the laws of the Democratic Republic of the Congo (the “DRC”).
Leda owns an interest in and to the Misisi Gold project (the “Misisi Gold Project” or the “Project”), located in the Fizi territory of South Kivu province, in the DRC, approximately 250 km south of Bukavu and 140 km north of Kalemie.
The Misisi Gold Project covers 133 square kilometre on three contiguous mining licences, valid until 2045 (with extension options) and includes the Akyanga gold deposit which hosts an Inferred Resource of 3.1 million ounces of gold averaging 2.16 grams per tonne gold.
