Dutch Gold Resources, Inc. (Pinksheets: DGRI) today announced that it has purchased certain mineral properties from Aultra Gold, Inc. The completion of this acquisition of projects in Montana and Nevada will allow the Company to accelerate the growth of building shareholder value.
“The acquisition is consistent with our plan to develop potential high-value properties in key areas, in politically stable areas,” said Dan Hollis, CEO of Dutch Gold Resources.
The intent to complete the transaction had been previously announced as a merger, but on review it was determined that a partial asset purchase was more favorable to both firms.
“We are grateful to our shareholders and business partners who have tirelessly supported us in this transaction, and excited about the potential of these projects,” added Mr. Hollis.
With the assistance of Rauno Perttu, Dutch Gold Resources will begin the process of developing the high value targets first, and will release development plans during the first quarter of 2010, and will begin implementing them during the second quarter of 2010. GRI believes that it can significantly add to the value of the properties, particularly with the help of Mr. Perttu.
Consideration for the transaction included the issuance of shares to Aultra Gold, Inc., assumption of certain Aultra responsibilities, and the issuance of additional considerations to Aultra including the transfer of certain intellectual properties from DGRI to Aultra Gold.
“We are pleased to have begun the first acquisition detailed in the Company’s four Step Plan to build shareholder value. We are confident in the coming weeks and months that this transaction will form the base to quickly acquire additional keystone assets for the Company,” concluded Mr. Hollis.
An 8K providing full details of the acquisition will be filed next week.
Disclosure: No position in Dutch Gold’s stock. See our disclaimer page.
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