Dec 21 2010
White Tiger Gold Ltd. has announced that it has completed its previously announced acquisition, through its, directly and indirectly, wholly-owned Cyprus subsidiary, Diascia Investments Limited, of four wholly-owned subsidiaries of LLC UK Dalsvetmet, being Ildikangold, Dalsvetmet, LLC Koryakming and Vostokzvetmet, as well as the entire 80% interest of DZM in a fifth subsidiary, LLZ Geozvetmet in exchange for the issuance of 85,000,000 common shares of the Company to DZM.
The Acquisition has been accounted for as a reverse takeover.
Business of White Tiger Gold
White Tiger Gold will carry on the business of the OpCos, which consists of the acquisition, exploration, development and mining of mineral properties in the Russian Federation, including two material projects in eastern Russia: the Savkino Project and the Nasedkino Project. The initial and principal focus of White Tiger Gold will be to expand its gold production at the Savkino Project and to move forward with its plans to construct a new gold production facility at the Nasedkino Project. In addition, White Tiger Gold will continue its exploration activities on its other properties and licence areas with a view to discovering economically viable production sites. The Company will also actively seek, evaluate and acquire interests in other projects or business opportunities in the mineral exploration industry that are indicated to have substantial potential.
For further information regarding the Savkino and Nasedkino Projects, see the Company's press release of November 11, 2010. The Company intends to file on SEDAR, on or about December 29, 2010, technical reports in respect of each of the Savkino and Nasedkino Projects as well as an annual information form, which will include, among other things, comprehensive disclosure regarding the OpCos, the properties and projects of the OpCos, including the Savkino and Nasedkino Projects, and the Company after giving effect to the Acquisition.
Directors and Officers of White Tiger Gold
The board of directors of the Company consists of the following individuals: Maxim Finskiy, Robert Armao, Sergey Chalykh, Geoffrey Cowley, Fran Scola and Edward Sugar. At the first board meeting of the Company, anticipated to be held on or before December 22, 2010, it is anticipated that the following officers of the Company will be appointed: Maxim Finskiy, Executive Chairman; Geoffrey Cowley, Chief Executive Officer; Andrew Robertson, Chief Financial Officer; and Gary Artmont, Chief Geologist. For profiles of the foregoing individuals, see the Company's press release of November 11, 2010.
As of the date hereof, there are 89,800,000 common shares of White Tiger Gold issued and outstanding, of which 85,000,000 (approximately 94.7%) are held by DZM, a company controlled and wholly-owned, directly and indirectly, by Mr. Finskiy.