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- Labrador Gold (TSXV:LAB:CA) shareholders have approved the sale of the Kingsway Project to New Found Gold (NYSE:NFGC) by a majority of 87.8%, it said Thursday.
- Shareholders also overwhelmingly approved the re-election of the Board of Directors, the re-appointment of the Labrador Gold’s (LAB:CA) auditors and the ratification of the 2023 Stock Option Plan.
- NFG (NFGC) will acquire a 100% interest in the Kingsway Project, including all property and mining rights associated with the property, in exchange for C$20M payable and satisfied by the delivery to LabGold of such number of NFG Common Shares.
- The transaction is scheduled to close on July 9, 2024.
- Source: Press Release