• Mr. Richard Penn

BLACK TUSK TO ACQUIRE GOLDA RESOURCES FOR 5M SHARES

Mr. Richard Penn reports

BLACK TUSK RESOURCES INC. ENTERS INTO AGREEMENT TO ACQUIRE MCKENZIE EAST PROJECT IN QUEBEC


Black Tusk Resources Inc. has entered into an agreement to acquire Golda Resources Inc., the 100-per-cent owner of the McKenzie East project. The property consists of 46 claims across 1,676.25 hectares of claims located 35 kilometres north of Val d'Or.


The acquisition of the property is to be completed via a share purchase agreement between the company, Golda Resources and its shareholders. The company is required to issue five million common shares to the shareholders of Golda in exchange for 100 per cent of the common shares of Golda. The company is also required to issue 500,000 common shares to predecessor vendors of the property in fulfilment of Golda's obligation to issue $25,000 worth of common shares of Golda (or its listed affiliate) upon completion of a liquidation event.


"We are extremely excited to acquire this property and expand the company's. We are extremely pleased to acquire this gold property in Val d'Or, which continues to expand our footprint in the Abitibi greenstone belt of Quebec," commented Richard Penn, chief executive officer of the company.


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