Northern Vertex, Eclipse Gold to Merge
“The result of this transaction will be a combined company with a greatly strengthened balance sheet, and an enhanced team with extensive experience growing multi-asset gold companies,” said Northern Vertex President, CEO and Director Kenneth Berry stated. “This represents a significant step toward our unwavering vision of building a top of the class mid-tier gold producer. We plan to use this new platform to accelerate organic growth opportunities by targeting significant resource expansion at the Moss mine and execute an aggressive roll-up strategy focused on the western United States.”
“Shareholders of the new combined company will now own a platform including two Walker Lane gold projects with multi-million-ounce potential, a producing mine with untapped production and cash-flow growth opportunities, and an executive team with demonstrated success building multi-asset companies organically and through M&A,” said Eclipse President, CEO and Director Michael G. Allen stated. “This combination aligns all the key elements required toward building America’s next mid-tier gold growth story.” The management team will be comprised of President and CEO Kenneth Berry, CFO David Splett, EVP Corporate Development Michael G. Allen, and Dr. Warwick Board as Vice President of Exploration. Shareholders of Eclipse will receive 1.09 shares in Northern Vertex for each Eclipse share. The transaction has been unanimously approved by the board of directors of both Northern Vertex and Eclipse.