Emerging Goldfields secures funding to increase gold production at Margaret Lake

Margaret Lake RTO target Emerging arranges loan

Margaret Lake RTO target Emerging arranges loan

Mr. Yari Nieken” reports


Subsequent to Margaret Lake Diamonds Inc.’s reverse takeover of Emerging Goldfields Resources Ltd. announcement on Dec. 28, 2023, Emerging has received a loan facility comfort letter, dated Jan. 25 2024, indicating the Bank of Georgia will provide a loan facility of $500,000 (U.S.) with an 8-per-cent interest rate, once Emerging provides completed contracts with a mining contractor, processing plant and gold concentrate offtake and providing a guarantee for the loan property as a security. The Bank of Georgia Group PLC is Georgia’s largest bank and is listed on the London Stock Exchange under the symbol “BGEO”.

Mr. Mamuka Zakareishvili, Associate Corporate Banker in Corporate and Investment Banking stated in the loan facility letter: “Based on our understanding, the direct sale of Emerging’s ore will have a significant impact on the operations capacity. This Upgrade will allow for the processing of 200,000 tons of ore annually, resulting in an annual gold production increase of up to 1 tonne.” Margaret Lake Diamonds CEO, Mr. Yari Nieken states: “We would like to thank Mr. Zakareishvili and the Bank of Georgia for their confidence and support as we work to complete this reverse takeover with Emerging Goldfields. This loan facility will provide Emerging with near term funding to secure the equipment necessary to begin shipments of ore from the Azatek gold property to a nearby mill for processing. We anticipate the completion of our recently announced RTO financing and look forward to the commencement of gold production.” This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

We seek Safe Harbor.

Emerging Goldfields Resources Ltd – Update

Vancouver, British Columbia, Canada (March 22, 2024) – Emerging Goldfields Resources Ltd. (the “Corporation”) cautioned today that due to issues raised by the Alberta Securities Commission, the following NI 43-101 Technical Reports filed on SEDAR+ should not be relied on: The technical report on the Archut Project filed on January

Read More »

Margaret Lake to merge with Emerging Goldfields in RTO

Margaret Lake Diamonds Inc. has entered into an amalgamation agreement dated Dec. 14, 2023, with Emerging Goldfields Resources Ltd., an arm’s-length private company incorporated under the Business Corporations Act (Alberta) (ABCA), which sets forth the conditions of the proposed arm’s-length reverse takeover transaction. In addition, and in connection with the

Read More »

Margaret Lake enters into LOI to purchase Emerging Goldfields

Proposed Transaction will take the form of a business combination between DIA and Emerging whereby the DIA Securities and Emerging Securities will be exchanged on a 1:1 basis for an equivalent security of the Resulting Issuer (other than Emerging Shares or Margaret Common Shares held by shareholders who exercise their

Read More »