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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Wed., Sep. 3, 12:32 AM

Slide #3. La Ronge Gold Corporation 22% Equity Stake in Canfrac Sands

Acquirer: La Ronge Gold Corporation (CVE:LAR.CA)
Acquiree: 22% Equity Stake in Canfrac Sands
Details: La Ronge Gold Corp. ("La Ronge" or the "Company") - Further to the Company's news release dated May 5, 2014 and June 20, 2014, the Company announces that the proposed 100% acquisition of the assets and business of Canfrac Sands Ltd. ("Canfrac") and concurrent $7,000,000 subscription receipts financing has been terminated; instead the Company will release the remainder of its $1,000,000 deposit to Canfrac in exchange for a 22% equity stake in Canfrac, pro-rata subscription rights for any future securities issue by Canfrac, and representation on Canfrac's board. La Ronge will not retain Canfrac Sands board of directors and management team including, Chris Friesen, David Brough, and Tony Yip.

La Ronge Gold is a development stage company in the process of acquiring, exploring and developing its resource properties and has not yet determined whether the properties contain ore reserves that are economically recoverable. The recoverability of the amounts shown for mineral properties and exploration costs are dependent upon the existence of economically recoverable reserves, the ability of Co. to obtain necessary financing to complete the development of those reserves, and upon future profitable production.

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Company Name:  La Ronge Gold Corp
Website:  www.larongegold.com
Sector:  Precious Metals
 

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September 3, 2014    12:32 AM Eastern
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