Wed, Dec 23, 2020 at 12:00 PM
Eastern Time (US & Canada)
On December 16, 2020, KORE Mining (TSX-V: KORE | OTCQX: KOREF) announced the Spin-Out of its exploration assets in the South Cariboo Gold District of British Columbia, Canada. The assets, occupying a dominant 1,000 sq. km position in an emerging gold region with Osisko Development Corp (TSX: ODV) investing heavily to the north, consist of KORE's FG Gold and Gold Creek gold projects.
The Spin-Out would enable KORE’s shareholders to realize the expected growth and returns from exploration investment through direct ownership in Karus Gold. Upon completion of the Spin-out, KORE will continue as a leading gold company with a focus on growing and developing the Imperial and Long Valley gold projects. The transaction is supported by Mr. Eric Sprott, KORE’s largest shareholder.
KORE is 100% owner of a portfolio of advanced gold exploration and development assets in California and British Columbia. KORE is supported by strategic investor Eric Sprott who recently invested $7.0 million, bringing his total ownership to 26%. KORE management and Board are aligned with shareholders, owning an additional 38% of the basic shares outstanding. KORE is actively developing its Imperial Gold project and is aggressively exploring across its portfolio of assets.
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Scott TrebilcockPresident & CEOScott Trebilcock, CEO, is a process engineer with over 25 years in the resource sector. He was most recently Chief Development Officer at Nevsun Resources where he was responsible for strategy, corporate development, investor relations and exploration.
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