VANCOUVER, BC--(Marketwired - December 01, 2017) - Marching Moose Capital Corp. ("MMC.H") ("MMCC" or the "Company") (NEX BOARD: MMC.H) is pleased to announce that following receipt of final approval by the TSX Venture Exchange (the "Exchange"), it has completed its previously announced three cornered amalgamation (the "Amalgamation") with Avidian Gold Inc. ("Avidian"). MMCC Amalco Ltd, a wholly owned subsidiary of MMCC, and Avidian amalgamated to form a new entity to be called Avidian Gold Inc. which is wholly owned by MMCC. Pursuant to the terms of the Amalgamation set out in the amalgamation agreement between the parities, Avidian shareholders will receive one common share of MMCC for every 2.17 common shares of Avidian previously held (the "Share Exchange"). In connection with the Share Exchange, MMCC has issued an aggregate of up to 47,948,057 common shares and 3,432,604 share purchase warrants of MMCC to Avidian shareholders. Of these, 14,213,883 common shares of MMCC held by principals are subject to escrow restrictions in accordance with the rules of the Exchange.
Effective Monday, December 4, 2017 MMCC will change its name to Avidian Gold Corp. and will begin trading as a Tier 2 mining issuer on the Exchange under the symbol AVG. The Amalgamation, Share Exchange and the name and symbol change (collectively the "Transaction") constitutes the Company's Qualifying Transaction and as of resumption of trading, the Company will no longer be a capital pool company under the rules of the Exchange.
Completion of the Transaction has also resulted in the reconstitution of the Company's management and board of directors as follows: Dino Titaro, President, Chief Executive Officer and Director, Giulio T. Bonifacio, Chairman and Director, Victor H. Bradley, Director, David C. Anderson, Director, Jeff Mosher, Chief Financial Officer, Tom Setterfield, Vice President Exploration and Catherine Tanaka, Corporate Secretary.
As a result of the completion of the Transaction, the Company is now a junior mineral exploration company that holds a 100% interest in four advanced gold properties located in the USA: the Golden Zone and Amanita properties, situated in south–central Alaska, and the Jungo and Dome Hill properties located in Nevada. The Company also holds a 100% interest in the Strickland massive sulphide property located in Newfoundland, Canada.
The 59 sq km Golden Zone and 14.6 km Amanita properties lie within the prolific Tintina Gold Belt that hosts multi-million ounce gold deposits such as Donlin Creek (+39 Moz), Fort Knox (+8 Moz) and Dublin Gulch (+6 Moz). Both properties have well documented gold occurrences that trend over several kilometers in length and are easily accessible all year round by road access and are close to major infrastructure.