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BRIEF-Western Troy Enters Into Binding Letter Of Intent

Published 2019-12-05, 07:20 p/m
Updated 2019-12-06, 11:54 a/m
BRIEF-Western Troy Enters Into Binding Letter Of Intent

Dec 5 (Reuters) -

* WESTERN TROY ENTERS INTO BINDING LETTER OF INTENT

* WESTERN TROY CAPITAL - PROPOSED TRANSACTION BE STRUCTURED AS 3-CORNERED AMALGAMATION, RESULTING IN CHURCHILL BECOMING WHOLLY-OWNED SUBSIDIARY OF CO

* WESTERN TROY CAPITAL RESOURCES INC- PROPOSED TRANSACTION CONSTITUTES A "REVERSE TAKEOVER" OF COMPANY UNDER POLICIES OF TSX VENTURE EXCHANGE

* WESTERN TROY - PRIOR TO DEAL, CO WILL CONSOLIDATE TROY SHARES ON BASIS OF 1 POST-CONSOLIDATED TROY SHARE FOR EVERY 5 PRE-CONSOLIDATED TROY SHARES

* WESTERN TROY CAPITAL RESOURCES INC- CHURCHILL IS PROPOSING TO COMPLETE AN EQUITY FINANCING TO RAISE GROSS PROCEEDS OF UP TO C$2 MILLION

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