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Gold/Mining/Energy : Shining Tree Gold Camp

ORFDF 0.0572

-11.2%

Oct 22 2:58 PM EDT

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From: sense	10/27/2021 12:57:31 PM
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Ran across the into on Orefinders today in poking at: 2018: Kerr Mines sells assets to focus on Copperstone Under the agreement, Kerr has divested all of its interest in the McGarry mine, and Barber-Larder properties to McGarry-Larder Mines Inc., a wholly-owned subsidiary of Orefinders. In return Kerr will receive approximately 9% of Orefinders’ outstanding shares. In addition, Kerr will receive 440,248 common shares of Powerore Inc., a battery-metal focused company that was recently set up to acquire Orefinders’ silver-cobalt assets, comprised of the Mann Mines and MacMurchy properties. The properties are located in the Cobalt-Gowganda District of Ontario, and form part of Orefinders’ plan to create a pure play battery metals company. “The sale of the McGarry assets for common shares in Orefinders is an excellent value-creating opportunity for Kerr Mines shareholders,” said Claudio Ciavarella, CEO of Kerr Mines. “The McGarry assets in Northern Ontario fit with Orefinders’ plans of developing assets in the Abitibi and will unlock value for Kerr shareholders,’’ he said.

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