On February 19, 2021, Crystal Peak Minerals Inc. and Western Exploration entered into an arrangement agreement through which Western Exploration will go public through a reverse takeover of Crystal Peak Minerals Inc. As part of the reverse takeover, Western entered into an agreement to sell subscription receipts of Crystal for a gross proceeds of up to $20 million. Upon completion of the transaction, Western Exploration will create a Nevada based precious metals exploration and development company, the Aura Project will be the company’s only property, covering approximately 6,128 hectares in northern Elko County, Nevada.
Crystal Peak Minerals Inc. is a Utah based mining company focused on the acquisition, exploration and development of a sulfate potash project in the United States.
Western Exploration is a mining company specializing in the acquisition, exploration and development of precious metal mineral properties in Nevada.
Osler, Hoskin & Harcourt LLP advised Crystal Peak Minerals Inc. with a team consisting of Alan Hutchison, Kelsey Weiner, Minji Park (Corporate) and Megan Young (Articling Student).