- MegumaGold Corp. (CSE: NSAU, OTC: NSAUF,
FWB:
2CM2)§(MegumaGold) and Osprey Gold Development Ltd. (TSXV: OS) (Osprey) are pleased to
announce§ that they have entered into a letter agreement (the Agreement) pursuant to which
MegumaGold would acquire 100% of the issued and outstanding shares of Osprey via a business
combination (the Transaction).
The
proposedTransaction
would provide
shareholders of
both§companies with:
a natural district consolidation of Ospreys properties including the Goldenville and Caribou
projects,§and MegumaGolds extensive exploration land position;
continued and increased exposure to Nova Scotias Meguma terrane;
strengthened balance sheet;
opportunities for operational and exploration synergies; and
significantly strengthened management and leadership team through complimentary skillsets.
Osprey§ is a Canadian exploration company focused on exploring five gold properties in Nova Scotias
largest historic gold district. Ospreysexploration licences all§sit contiguous with MegumaGold claims in
the§ heart of the Meguma gold district. Ospreys main focus is developing the Goldenville Project,
located in Nova§ Scotias largest historic gold district within the Meguma Supergroup. Osprey is also
focused§ on exploring four other gold projects within the Meguma Supergroup including the Caribou
Project, located within§one of Nova Scotias past-producing gold districts.