CALGARY, Sept. 21, 2017 /CNW/ – Soleil Capital Corp. (TSX.V: SOLE.P – the “Company” or “Soleil“), a capital pool company (a “CPC“), is pleased to announce it has entered into a letter of intent dated September 21, 2017 (the “LOI“) to enter into an arm’s length business combination transaction (the “Proposed Transaction“) with Goldplay Exploration Ltd. (“Goldplay“). Goldplay is a private mineral exploration company incorporated under the laws of British Columbia and active in gold exploration in the Rosario Gold District, Sinaloa, Mexico (the “Rosario District“).
The purpose of the Proposed Transaction is the creation of a public, TSX Venture Exchange-listed, Mexico-focused, precious metals exploration company utilizing Goldplay’s mineral exploration strategy and experience related to the Rosario District. The working capital of the combined entity (the “Resulting Issuer“), upon successful closing of the Proposed Transaction and the Concurrent Financing (as defined herein) will be approximately CDN$2,000,000, sufficient to support Goldplay’s current 12 month exploration strategy, and the ongoing evaluation of new opportunities.
Soleil intends that the Proposed Transaction will constitute its Qualifying Transaction, as such term is defined in the policies of the TSX Venture Exchange (the “Exchange“). Upon completion of the Proposed Transaction, the Company expects that the Resulting Issuer will be named Goldplay Exploration Ltd. and will be listed as a Tier 2 Mining Issuer on the Exchange.