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Newpath Resources Inc.
Newpath Resources Inc.
Registriert in: Kanada WKN: A3D3HN Rohstoffe:
Art: Originalaktie ISIN: CA6517281078 Gold
Heimatbörse: CSE Alternativ: RDYFF
Währung: CAD    
Symbol: PATH.CSE Forum:

Ready Set Gold Corp. (formerly Omni Commerce Corp.) Announces Closing of Business Combination with Ready Set Gold Corp.

09.12.2020 | 12:00 Uhr | Newsfile
Vancouver, Dec. 9, 2020 - Ready Set Gold Corp. (CSE: RDY) (formerly Omni Commerce Corp.) ("RDY" or the "Company") is pleased to announce that further to its news release dated November 25, 2020, pursuant to the amalgamation agreement dated August 12, 2020, the Company and its wholly owned subsidiary 1258952 BC Ltd. ("Newco") has completed the previously announced business combination (the "Transaction") with the pre-amalgamation Ready Set Gold Corp. ("Pre-RSG"). Pursuant the terms of the Transaction, the Company changed its name from Omni Commerce Corp. to Ready Set Gold Corp. and the Company acquired all the issued and outstanding share capital of the Pre-RSG in exchange for an aggregate of 9,745,563 common shares in the capital of the Company. Newco and Pre-RSG completed an amalgamation with the resulting entity being solely owned by the Company and named "Ready Set Gold ON Ltd.".

In connection with the closing of the Transaction, John Veltheer has resigned as Chief Executive Officer, but will remain a director of the Company, and Michael Hopkinson has resigned as director of the Company. The Company thanks Mr. Hopkinson for his service to the Company and wishes him success in his future endeavors. The Company has appointed Jason Jessup and Adam Schatzker as directors of the Company, Christian Scovenna as director and Chief Executive Officer and Alex McAulay as Chief Financial Officer of the Company.

The Company continues to pursue its application to list on the Canadian Securities Exchange as described in the Company's news release dated November 25, 2020.

Upon listing, the Company will have 29,774,640 shares outstanding.


About RDY

RDY is a mineral exploration company headquartered in Vancouver, British Columbia and is a reporting issuer in British Columbia and Alberta. RDY owns a 100% interest of the Northshore Gold Property located in the Schreiber-Hemlo Greenstone Belt near Thunder Bay, which is prospective for gold and silver mineralization. The Northshore Gold Property contains a historic mineral resource estimate within the Afric Deposit at a cut-off grade of 0.50 grams gold per tonne of 391,000 ounces gold in 12,360,000 tonnes at a grade of 0.99 g/t gold in the indicated category, and 824,000 ounces gold in 29,580,000 tonnes at a grade of 0.87 g/t gold in the inferred category. The Company also owns a 100% interest in two separate claim blocks totaling 4,453 hectares located 7 km east of Barrick's Hemlo Mine near Marathon, Ontario known as the Hemlo Eastern Flanks Project and holds an option (the "Option") to acquire a 100% undivided interest in 71 mineral claim cells totaling 1,634 hectares comprising the Emmons Peak Project located 50 km south of Dryden, Ontario. Both the Helmo Eastern Flanks Project and Emmons Peak Project are prospective gold properties.


ON BEHALF OF THE BOARD, READY SET GOLD CORP.

Per: "Christian Scovenna"
Christian Scovenna, CEO



Christian Scovenna
Phone: 416.453.4708
Email: cscovenna@readysetgoldcorp.com



All technical information in this news release is taken from a National Instrument 43-101 ("NI 43-101") technical report entitled "Technical Report on the Mineral Resources of the Northshore Property, Priske Township, Ontario Canada" dated June 30, 2014 (the "2014 Technical Report") which was prepared for GTA Financecorp Inc. (formerly GTA Mining and Resources Inc.) ("GTA") by Gary Giroux, P. Eng. of Giroux Consultants Ltd. and J. Douglas Blanchflower, P. Geo. of Minorex Consulting Limited and subsequent public disclosures by prior owners of the Northshore Gold Property. All such disclosure was approved at the relevant times by a Qualified Person (as defined in NI 43-101). A copy of the 2014 Technical Report is available on SEDAR under GTA's profile.

Further information on the Northshore Gold Property and the particulars of the exploration and evaluation work conducted on the Northshore Gold Property by CBLT Inc. ("CBLT") and GTA are set out in CBLT's and GTA's respective public disclosure records. Details of the data verification procedures and limitations relating to: (i) the resource estimations are set out in the 2014 Technical Report, (ii) the open pit design evaluations are set out in GTA's news release dated June 17, 2015, and (iii) the results of GTA's 2018 drill program are set out in GTA's news release dated February 25, 2019. The results of GTA and CBLT's evaluations to date include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the economic viability of this material will be realized in future studies. Omni intends to complete a current National Instrument 43-101 technical report on the Property in connection with the Transaction (the "2020 Technical Report").
 
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