Boss Power Corp. (TSX.V: BPU) (“Boss Power”) and Anthem Resources Inc. (TSX.V: AYN) (“Anthem”) are pleased to announce the results of the Special and AGM shareholder meetings held on July 16, 2015. Under the Arrangement, Anthem Shareholders will receive common shares of Boss Power (the “Boss Shares”) on the basis of 0.75 of a Boss Share for each Anthem Share held. The Arrangement Resolution was approved by 99.76% of the votes cast by Anthem Shareholders and 99.99% of the eligible votes cast by Boss Power Shareholders. Upon receipt of the final order from the BC Supreme Court, the name change to Eros Resource Corp (the “Company” or “Eros”) will proceed and trade under the symbol ERC. The new Board consists of Tom MacNeill, Ross McElroy, Ronald Netolitzky, Donald Siemens and Ronald Stewart. The initial officers will consist of Tom MacNeill, Chairman, Ronald K. Netolitzky, President and CEO, Walter Coles Jr., Vice President Corporate Development and Karen A. Allan, CFO and Corporate Secretary. Eros considers that the combined Company meets all of the conditions to support a Tier 1 rating on the TSX Venture exchange. A Tier 1 application has been submitted.
MINERAL PROPERY INTERESTS
Our property holdings are comprised of various interests in Canadian and US based mineral projects. The first two described reflect projects that have been subject to recent exploration and acquisition which have been funded by Boss Power. It is the Company’s objective to continue evaluating and acquiring interests in high grade mineral projects identified through the Company’s research and network.
The Company acquired control of the Bell Mountain Project (News release April 30, 2015) and has completed the required expenditures to earn a 100% interest in the property subject to minor royalty obligations. Bell Mountain represents a material property interest as defined by the TSXV that will support the Company’s Tier 1 application. The Company has been working to advance this project through permitting and a Preliminary Economic Assessment. Exploration activity in the USA is operated through our 100% owned subsidiary, Bell Mountain Exploration Corp. The Bell Mountain property is within the Walker Lane trend in Nevada characterized by low sulphidation epithermal style gold mineralization. . We have an additional focus around the Bell Mountain area and have completed an investment to earn an interest in the Eastgate project (News release May 25, 2015).
The Company also completed a recent investment to acquire an 8.7% interest in Skeena Resources Spectrum Property (Skeena News release June 2, 2015). A major 12,000 metre drill program is underway on this high-grade gold target within the Golden Triangle of British Columbia.
The Company has an estimated 36% and 31% interest respectively in the Hatchet Lake and Murphy Lake properties in the Denison Mines Joint Venture in the northeast area of the prolific Athabasca Basin. We consider the package to be highly prospective for (economic uranium discoveries) with active drilling on Murphy Lake. The Company intends to review its options regarding this well situated project.
The Company continues to assess our ability to maximize the value of the other assets and royalty interests within our portfolio.
The Company is focused on opportunities in stable geopolitical jurisdictions which include Canada and Western USA. Our position in the Bell Mountain area on the Walker Lane trend in Nevada and our investment in the drilling of a high-grade gold deposit in Northwest British Columbia are examples of successes that have been initiated while we streamlined the combined companies’ corporate structure. Eros has $10,000,000 in the treasury which equates to approximately $0.25 in cash per share and is operated with a modest corporate structure leaving the treasury available for strategic investments.
Boss Power Corp. is a Canadian public company focused on the exploration and development of mineral deposits in North America.
Anthem Resources Inc. is a Canadian exploration company, which holds a number of uranium properties, joint ventures and royalty interests.
For more information contact:
|BOSS POWER CORP.|
Ron Netolitzky, CEO
|ANTHEM RESOURCES INC.|
Walter Coles Jr., President/CEO
This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the parties’ expectations include: risks relating to uncertainties associated with the Arrangement; and risks that certain conditions to the consummation of the Arrangement will not be satisfied. Anthem’s and Boss’ forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. The parties assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change unless required by applicable law.
For further information contact: Tony Perri - Investor Relations, Manager
Suite 611, 675 W. Hastings Street Vancouver, British Columbia, Canada V6B 1N2
Tel: (604) 688-8115 Fax: (604) 669-2543