News Bulletin

Dome Ventures and Metalline Mining Announce Intent to Merge

Wednesday, 25 Nov 2009

Dome Ventures Corporation and Metalline Mining have signed a letter of intent to merge. Dome proposes to carry out a private placement in Metalline valued at US$3M million in the form of 6.5 million units, each unit consisting of one share and one warrant. Dome is required to arrange financing of US$16 million prior to completing the private placement in Metalline. The deal will provide Metalline with sufficient working capital to continue its current exploration program on the Sierra Mojada property in Mexico.

Metalline will then move to acquire all outstanding Dome shares by the issuance of ~54 million shares. The number of shares to be received by Dome’s shareholders will depend on the number of outstanding Dome shares at closing. All Metalline shares and warrants issued to Dome with respect to the initial investment of US$3 million will be cancelled at the closing of the merger.

A deadline of November 23, 2009 has been placed for the parties to reach formal agreement. The letter of intent will expire should no formal agreement be reached prior to December 4, 2009. 

Dome is a mineral exploration company currently undertaking mineral exploration activities in Gabon, West Africa. Metalline Mining Company is an exploration enterprise with mining concessions in the Coahuilla region of Mexico. 

Source: Metalline Mining company announcement, November 2009

     

     

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