Seeking to obtain private placement financing of up to $2.25 million, Ghanorcan Resources of Toronto is also negotiating an amalgamation with Consolidated Thompson-Lundmark Gold Mines (TSE) and Quebec Cobalt & Exploration (ME).
Plans call for the amalgamated company to have a new name. The current top management of Ghanorcan, Derek Bullock and Bryan Wilson, would assume the positions of president and vice-president, respectively, with the amalgamated company.
Active in Ghana, Africa, Ghanorcan, a private company, needs funding for its exploration program there. The company holds licenses for two mining concessions and has an option to earn a 75% interest in a third concession.
Two of the concessions are located on strike and in close proximity to the producing Ashanti gold mine.
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