Buccaneer Gold Corp. is pleased to announce that it has entered into a share exchange agreement with Strategic Minerals Europe Inc., a privately held company existing under the laws of Ontario, pursuant to which Buccaneer and Strategic have agreed to complete a transaction that will result in a reverse-takeover of Buccaneer by the current shareholders of Strategic The Agreement was negotiated at arm’s length and is dated August 24, 2021. The closing of the Transaction will be subject to several terms and conditions including the receipt of all necessary regulatory and third-party consents and approvals, the listing of the resulting issuer on the NEO Exchange Inc. and the delisting of Buccaneer from the Canadian Securities Exchange. Buccaneer and Strategic are not related parties.
Buccaneer is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. Pursuant to securities legislation, Buccaneer is a “reporting issuer” in Ontario, Alberta and British Columbia whose shares are listed on the CSE. The Company has one material property, namely, the Massey Silica property, covering approximately 128 hectares near Sudbury, ON, approximately 7 km north of Massey, ON. Strategic Minerals Europe Inc. was incorporated in Ontario, Canada on June 17, 2021. Strategic’s wholly owned subsidiary Strategic Minerals Spain, S.L. (“SMS”), a corporation incorporated pursuant to Spanish law, is involved in the identification, exploration, and development of mineral resource properties, predominantly in Spain. SMS hold permits and licenses pertaining to two mining projects in Spain, which are referred to as the Alberta II Project and the Penouta Project, respectively. Strategic is continuing to focus on exploration, expansion and modernization activities through the Transaction described in this press release.