CALGARY, Nov. 20, 2017 /CNW/ – Soleil Capital Corp. (TSX.V: SOLE.P – the “Company” or “Soleil“), a capital pool company (a “CPC“), is pleased to announce that further to its press release of September 21, 2017, it has entered into an amalgamation agreement dated November 17, 2017 (the “Agreement“) with Goldplay Exploration Ltd. (“Goldplay“) in respect of an arm’s length business combination transaction (the “ProposedTransaction“). 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 will be approximately $1,507,504 (assuming completion of the minimum Concurrent Financing (as described below)) or $2,507,504(assuming completion of the maximum Concurrent Financing), sufficient to support Goldplay’s current 12 month exploration strategy, and the ongoing evaluation of new opportunities.
SOURCE Soleil Capital Corp.