Meadow Bay Gold completes sale of shares of Desert Hawk Resources to Casino Gold

2 minute read
18 November 2019

On Nov. 18, 2019, Meadow Bay Gold Corporation (CSE: MAY) (OTCQB: MAYGF) (Frankfurt: 20M, WKN A1C3DN) announced that it had closed the sale of all of its shares in Desert Hawk Resources Inc. (and thereby the Atlanta Gold Mine project in Lincoln County, Nevada) to Casino Gold Corp. As consideration for the purchase of Desert Hawk, Casino Gold issued to Meadow Bay 10,000,000 common shares in its capital, which representing approximately 5.8% of Casino Gold's issued and outstanding shares.

Casino Gold is a Toronto-based private gold exploration company that holds gold exploration projects in Nevada. Casino Gold also currently holds 46.29% of the issued and outstanding shares of Victory Metals Inc. (TSXV: ECC), which owns a 100% interest in the Iron Point Vanadium Project also in Nevada.

Meadow Bay Gold sold Desert Hawk in conjunction with its planned acquisition of Mountain Valley MD Inc., a private Ontario corporation focused on becoming a health and wellness organization centred around cannabis derivatives.

Gowling WLG advised Meadow Bay Gold in this transaction with a team that included Michael Clancy, Brett Kagetsu, Raymond Ong and Sarah Baddeley.

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