It was just announced that Regency Gold shareholders have voted in favor of the proposed name change and that the company has amended its articles in accordance with the Canada Business Corporations Act and changed its name to Clean Air Metals Inc. In addition, the Listing Committee of the TSX Venture Exchange has conditionally accepted the company's previously announced proposed reverse takeover transaction.
According to Clean Air Metals CEO Abraham Drost, "Shareholder approval of the change of the Company's name to Clean Air Metals Inc. is a watershed moment for the Company. The Company's name change, combined with the recent conditional approval of the Transaction by the Listing Committee of the TSXV, creates a clear path to resumption of trading under symbol AIR: TSXV."
The #1 largest AIR shareholder is Benton Resources (TSXV: BEX) with 24,615,384 shares for a 19.68% stake in the company. The #2 largest AIR shareholder is Eric Sprott with 10,000,000 shares for an 8% stake in the company.
Palladium is looking very strong up $36.30 today to $2,196.65 per oz and platinum looks ready for a major breakout up $7.79 today to $738.50 per oz.
Based on current metals prices, AIR has an indicated historical resource at Thunder Bay North of 9,829,000 tonnes grading 2.23 g/t palladium equivalent. This resource doesn't include AIR's Escape Lake project, which is located within the Thunder Bay North complex and contains an extremely high grade palladium deposit including an intercept of 33.4m of 7.28 g/t palladium+platinum+gold and 2.26% nickel+copper.
After AIR goes public, the company will launch a 13 hole Escape Lake drilling campaign to better define the previously discovered extremely high grade Escape Lake palladium deposit and turn it into an indicated resource. Afterwards, AIR will launch a Phase 2 Escape Lake drilling campaign of 20 holes, designed to further expand the previously discovered extremely high grade Escape Lake palladium deposit and also turn it into an indicated resource. Finally, AIR will conduct a Phase 3 drilling campaign at Thunder Bay North targeting its extremely high grade Feeder Zone, which is the highest grade section of Thunder Bay North. AIR will then release a resource update to consolidate its historical Thunder Bay resource with the extremely high grade Escape Lake and Thunder Bay North feeder zone deposits!
Already, AIR's current Thunder Bay North palladium equivalent grades are nearly triple the palladium equivalent grades of Generation Mining (CSE: GENM)'s 51% owned Marathon Project!
The only way to capitalize on AIR before it goes public in the upcoming days is by taking advantage of its largest shareholder BEX!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 1.05 million shares of BEX in the open market. He intends to buy additional BEX shares prior to Clean Air Metals going public. Sometime after Clean Air Metals goes public he intends to sell his BEX shares for a profit. This message is meant for informational and educational purposes only and does not provide investment advice.