For further information contact:
Sutter Gold Mining Inc.
Sutter Gold Mining Inc. (the “Company” or “Sutter”) is a gold exploration company that was traded on the TSX Venture Exchange. Its primary asset consists of shares in its wholly owned subsidiary, Sutter Gold Mining Company (“SGMC”). SGMC is a US corporation based in Wyoming. It owns the mineral leases and mining claims related to the Lincoln Project, located in the Mother Lode mining district of Amador County, California. The Lincoln Project is currently on care and maintenance.
On May 17, 2019, The Bowra Group Inc. was appointed Receiver (“Receiver”) of the assets, undertakings and properties of the Company pursuant to an Order of the Supreme Court of British Columbia.
Sale of Assets
The Receiver has engaged Dundee Goodman Merchant Partners (“Dundee”) to assist with a sale solicitation process to sell all the assets of Sutter. Interested parties should review the redacted information memorandum. If a party wishes to proceed with further due diligence, they should sign the Non-Disclosure Agreement (“NDA”) to receive access to the data room. Executed NDA’s should be emailed to Chris Bowra at firstname.lastname@example.org.
Key Dates for the sale solicitation process:
Interested parties are required to submit a Letter of Intent (“LOI”) by 5pm PDT on July 12, 2019. The LOI must be accompanied by evidence of the party’s financial and other capabilities to complete the transaction;
The Receiver in conjunction with Dundee will review each LOI received and will notify each party that the Receiver wishes to pursue a potential transaction with by July 18, 2019;
A template asset purchase agreement will be posted to the data room and is to be used by each interested party wishing to submit an offer. Each offer must be accompanied by a refundable deposit of at least 20% of the purchase price contemplated in the offer. The offer deadline is 5pm PDT on September 6, 2019;
The successful bidder will be notified by September 13, 2019; and,
The Receiver will seek Court approval of the accepted offer as soon as reasonably practical.
For further information regarding the sale solicitation process, interested parties should review Schedule A of the Sale Solicitation Process Order