Vancouver-based Corazon Gold Corp. (TSX-V:CGW) has signed an agreement to acquire Vancouver-based ICN Resources Ltd. (TSX-V:ICN), the companies have announced.
In a statement, the companies stated that the deal will result in a well-financed company with gold exploration projects in Nicaragua, Nevada and Colorado.
Carl Hering, president and CEO of ICN, said the deal will produce many “synergies,” and stated that it will allow ICN to drill one or more of its Nevada projects this year.
“A merger of this type, in this market, is a great way to create shareholder value, combining the complimentary strengths of these two companies,” he said.
Patrick Brauckmann, president and CEO of Corazon, also welcomed the deal.
“This transaction is a very positive step for Corazon by adding ICN’s Nevada property portfolio and the greater insight of the geologist responsible for identifying and selecting the projects, Dr. Carl Hering,” he said.
The transaction is expected to close during October and is subject to various conditions.
