capitaleritrea » Merger

The New East African-Focused Gold Company in Eritrea

capitaleritrea — Tue, 10 Nov 2009 07:28:47 +0000

Chalice Gold has unveiled its new corporate design and is laying out its new strategy for the proposed merger between Chalice Gold Mines Limited and Sub Sahara Resources.

The material used in this presentation is intended to be a summary of the proposed merger between Chalice Gold Mines Limited and Sub Sahara Resources NL and includes activities that are current and proposed based on the information available to Chalice Gold Mines Limited as at 14 October 2009.

This presentation may contain value references and “forward looking statements“ which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results.

This presentation does not include all available Information on Chalice Gold Mines Limited and should not be used in isolation as a guide to investing in the Company. Any potential investor should also refer to Chalice Gold Mines Limited Annual Reports and to ASX releases and take independent professional advice before considering investing in the Company.

View the presentation in pdf format here The New East African-Focused Gold Company or for further information about Chalice Gold Mines Limited, visit the website at www.chalicegold.com

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Eritrea: Canadian Gold Hunter, Sanu Resources Merger Complete

capitaleritrea — Fri, 21 Aug 2009 19:44:33 +0000

TSX

Canadian Gold Hunter Corp. (TSX:CGH) and Sanu Resources Ltd. (TSX VENTURE:SNU) announced the completion of their business combination activities, making Sanu Resources a 100 percent owned subsidiary of Canadian Gold Hunter.

The announcement came shortly after shareholders and legal courts have approved the merger of both companies. As a result Sanu’s shares will be delisted from the Canadian Stock Exchange (TSX Venture Exchange).

Through the merger Canadian Gold Hunter has expanded its regional reach and secured its foothold in new mining markets such as Eritrea in East Africa. The acquisition should also assure Canadian Gold Hunter with the growth required to meet its expansion targets.

Wojtek Wodzicki the CEO of Canadian Gold Hunter, stated, “This transaction represents a pooling of the expertise of two well-regarded exploration companies and its resulting globally diversified portfolio provides a platform for entry into all major regions”.

Further, it was announced that former director of Sanu Michael Winn will join the Board of Directors of Canadian Gold Hunter. The move by Mr. Winn will add insider know-how about Sanu Resources Ltd. to the Board of Directors of Canadian Gold Hunter Corp.

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Chalice Gold adds $450000 to Sub-Sahara Gold Project Eritrea

capitaleritrea — Wed, 03 Jun 2009 11:14:45 +0000

Asmara- Capital of Eritrea

Sub-Sahara Resources Limited announced that a Scheme Booklet for the planned merger with Chalice Gold Mines has been filed with the Australian Securities and Investments Commission (ASIC).

A Scheme Booklet contains detailed information how the proposed merger of both companies is going to be arranged. The consent of Australian regulators for transaction of this nature requires the approval of the Australian Stock Exchange Limited (ASX) and the Australian Securities and Investments Commission.

Further, Sub-Sahara has been granted a loan facility of $450.000 from Chalice Gold Mines Limited in order to fund continued development at the Zara Project (Koka Deposit) in Northern Eritrea.

The $450.000 loan is given interest free until 01.09.2009; thereafter the ANZ rate for loans over $100.000 plus 3% will apply.

Chalice Gold Mines has proposed to Sub-Sahara share holders 1 Chalice Share for every 10.73 Sub-Sahara Share.

The merger is set out to combine the strong cash deposit of Chalice with Sub-Sahara’s 69% ownership of the Zara Gold Project in Eritrea.

Further, Chalice is planning to increase the ownership stake on the Zara Project to 80% once the merger has been completed. The time table for the merger is delayed by three weeks at this stage, because the initial plan to file the Scheme Booklet with the ASIC was the 11.05.2009.

This might postpone the finalization of the merger slightly, which will be also subject to third party and Sub-Sahara shareholders approval, towards mid – August – 2009.

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