Valorem completes acquisition of Regency Mining

On December 22, 2022, Valorem Resources Inc. ("Valorem") announced that it entered into and closed a share exchange agreement, dated December 20, 2022, with Regency Mining Limited ("Regency"), and each of the shareholders of Regency, pursuant to which it acquired all of the issued and outstanding common shares in the capital of Regency,  

Pursuant to the terms of the share exchange agreement, the shares were acquire in consideration for, on a pro rata basis, a cash payment of US$100,000 and the issuance of an aggregate of 16,000,000 common shares in the capital of the Valorem at a deemed price of C$0.29 per share.

Following the transaction’s closing, Regency became a majority-owned subsidiary of Valorem.

Further information can be found on NewFile’s website.

Regency is a private arm's length company, incorporated under the laws of Seychelles. It owns a 99.43% interest in Casa Mining Ltd., and indirectly, through its ownership of Casa, a 73.84% interest in Leda Mining Congo S.A., which in turn owns an interest in the Misisi Gold project located in the Fizi territory of South Kivu province of the Democratic Republic of the Congo.

Valorem explores and develops precious metal properties in the Americas and the Democratic Republic of the Congo.