Mansa Exploration (CSE: MANS) last night announced the closing of the acquisition of Wheeler Resources, resulting in the closing of the RTO transaction. Wheeler brings with it what is referred to as the Wheeler Property, which is based in Newfoundland.
The Wheeler Property consists of a total of 790 mineral claims across a total of 19,750 hectares within southwestern Newfoundland. The property is reportedly prospective for nickel-copper-PGE mineralization, as well as for chromite. Notably, the property has returned the four highest nickel values in the province via lake sediment samples, which returned values of 4,980, 4,750, 4,390 and 4,230 ppm nickel respectively.
The RTO transaction meanwhile saw the issuance of 10.8 million common shares of the company issued to shareholders of Wheeler Resources, of which a portion are subject to holdback provisions.
The company also announced last night the Robert Bresee has been named CEO of the refined company, as well as being appointed to the firms board of directors. Bresee has extensive experience in mine planning, operations, and budgeting, having served at the Klondex Midas Mine, the Kinross Gold Hoyle Pond Mine, and Liberty Mines’ Hart and McWatters mine operations, among others.
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Mansa Exploration last traded at $0.17 on the CSE.
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