09:53 AM EDT, 09/27/2021 (MT Newswires) -- Emgold Mining Corp. (EMR.V) said Monday that it consolidated ownership of the East-West property and acquired the Trecesson property, both in Quebec, from Knick Exploration.
The East-West property is adjacent to Wesdome Gold Mines Ltd. (WDO.TO)'s Kiena gold mine and O3 Mining Inc. (OIII.V)'s Malarctic gold property.
Emgold completed the transaction as part of a commercial proposal made under the Canadian Bankruptcy and Insolvency Act by Knick with its creditors.
As part of the agreement, Emgold paid the trustee $160,000 in return for Knick's interest in the properties. In addition, operations loans totaling $110,000 advanced to Knick are considered as part of the acquisition cost.
Price: 0.06, Change: 0.00, Percent Change: 0.00