TORONTO – Anthem Media Group has engineered a reverse takeover of mining company Carrie Arran Resources.
According to Wednesday’s announcement, Carrie Arran Resources will acquire all of the issued and outstanding securities of Anthem in exchange for the issuance of common shares of the company by way of a three-cornered amalgamation. The resulting amalgamated company will be a wholly-owned subsidiary of Carrie Arran Resources, and upon closing of the transaction, will change its name to be Anthem Sports & Entertainment Inc.
Anthem added that it has entered into an agreement with a syndicate of agents co-led by Paradigm Capital Inc., and GMP Securities LP, and including Mackie Research Capital Corp. to complete a “best efforts” private placement to raise CDN$20 million.
Carrie Arran’s principal business is the acquisition, exploration and development of mineral properties. Since incorporation, its business has focused entirely on the acquisition of the Black Creek Project, located approximately 30 km north of Kirkland Lake, ON.
