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Mining industry

Trident Resources Corp. Disposes of Lincoln Gold Mining Inc. Securities on TSX Venture Exchange

Strategic Insights

— 1 min read

Trident Resources Corp. has reported the disposition of 4,500,000 common shares of Lincoln Gold Mining Inc. on the TSX Venture Exchange, representing approximately 19.9 percent of all issued and outstanding common shares of Lincoln. The shares were sold at a price of $0.20 per share, resulting in an aggregate consideration of $900,000. This move comes after Trident's holdings of securities of Lincoln were managed for investment purposes, and the company may acquire additional securities, dispose of some or all of the existing or additional securities, or continue to hold their current positions.

Key Takeaways:

  • Trident Resources Corp. disposed of 4,500,000 common shares of Lincoln Gold Mining Inc. on the TSX Venture Exchange, representing approximately 19.9 percent of all issued and outstanding common shares of Lincoln as of July 15.
  • The shares were sold at a price of $0.20 per share, for an aggregate consideration of $900,000.
  • The disposition was made on July 14 and 15, and immediately following the transaction, Trident held 0 common shares of Lincoln.
  • Trident's holdings of securities of Lincoln are managed for investment purposes, and the company may from time to time acquire additional securities, dispose of some or all of the existing or additional securities, or continue to hold their current positions.
  • Trident Resources Corp. is a Canadian public mineral exploration company listed on the TSX Venture Exchange, focused on the acquisition, exploration, and development of advanced-stage gold and copper exploration projects in Saskatchewan, Canada.
  • The company is advancing its 100 percent owned Contact Lake and Greywacke Lake projects, which host significant historical gold resources located within the prospective and underexplored La Ronge Gold Belt.
  • Trident also owns the 100 percent owned Knife Lake copper project, which contains a historical copper resource.

Statistics:

  • Total number of shares disposed: 4,500,000
  • Total consideration received: $900,000
  • Price per share: $0.20
  • Percentage of shares held by Trident before the transaction: 19.9%
  • Percentage of shares held by Trident after the transaction: 0%
  • Number of shares held by Trident before the transaction: 4,500,000
  • Number of shares held by Trident after the transaction: 0

Sources:

  • Trident Resources Corp. release
  • Lincoln Gold Mining Inc. MD&A dated May 30
  • Trident Resources Corp. website: www.tridentresourcescorp.com/projects/contact-gold-project/#&gid=1&pid=1

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