Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


July 29, 2015 9:11 PM ET

Metals and Mining

Company Overview of Clear Gold Resources Inc.

Company Overview

Clear Gold Resources Inc. operates as a junior resource mining company in Canada. It has option agreements to acquire 100% interests in the Aquasabon Lake, Aquasabon River, and Big Duck Lake properties in the Thunder Bay Mining District, Ontario. The company was formerly known as ClearFrame Solutions Corp. and changed its name to Clear Gold Resources Inc. in February 2013. Clear Gold Resources Inc. is based in Vancouver, Canada.

409 Granville Street

Suite 1050

Vancouver, BC V6C 1T2

Canada

Phone:

604-644-4488

Key Executives for Clear Gold Resources Inc.

Chief Executive Officer, President, Director and Member of Audit Committee
Chief Financial Officer, Director and Member of Audit Committee
Age: 65
Secretary
Executive Officer
Compensation as of Fiscal Year 2015.

Clear Gold Resources Inc. Key Developments

Clear Gold Resources Inc., Annual General Meeting, Apr 28, 2015

Clear Gold Resources Inc., Annual General Meeting, Apr 28, 2015., at 10:00 Pacific Standard Time. Location: 1600 ­ 925 West Georgia Street. Agenda: To consider set the number of directors at four; to elect the directors of the company to serve until the next AGM shareholders; to consider appoint of Davidson & Company LLP, Chartered Accountants, as auditor for the company for the ensuing year; to consider authorise the directors of the company to fix the remuneration to be paid to the auditors for the ensuing year; to consider and, if thought appropriate, approve an ordinary resolution to confirm the company's stock option plan; and to transact such other business as may properly be put before the meeting.

Clear Gold Resources Inc., Annual General Meeting, Feb 10, 2015

Clear Gold Resources Inc., Annual General Meeting, Feb 10, 2015. Location: Suite 2600, 1066 West Hastings Street.

Clear Gold Resources Inc. Amends Financing, Agreement to Acquire Whale Shark Environmental Technologies

Clear Gold Resources Inc. announced that it has agreed with shareholders of Whale Shark Environmental Technologies Ltd.(WET) to amend certain terms of the previously announced letter agreement dated effective September 9, 2014 (the Letter Agreement) pursuant to which Clear Gold will acquire 100% of the outstanding shares of WET (the Transaction). Clear Gold also announced a reduction in the size of the associated interim financing to up to $500,000 (the Interim Financing), and bridge financing of up to $300,000 from an arm's length party. Pursuant to an amending agreement dated November 18, 2014 (the "Amended Agreement"), Clear Gold will now advance WET a $50,000 unsecured loan (the "Advance") to fund WET's transaction costs, instead of the originally agreed $250,000 advance. The Advance will be made immediately upon completion of the Interim Financing and mature and be repayable in full, without interest, on completion of the Transaction, in which case the amount of the Advance will be offset against the cash portion of the purchase price payable by Clear Gold at Closing. In the event that the Transaction for any reason terminates or in the event of a default, then the Advance will become immediately due and payable within 6 months and interest will accrued at a rate equal to 5% per annum from the date the Advance was made. The parties have also agreed to extend the exclusivity period until December 15, 2014 in order to give the parties additional time to prepare and sign the definitive transaction agreement. During the exclusivity period, neither party will solicit, encourage or accept any third party proposal in respect of an alternative transaction. The Amended Agreement also provides for completion of the Transaction by not later than February 27, 2015. In order to fund the Advance and Transaction expenses, and provide sufficient working capital for the company during the period through to closing, the Company will complete the Interim Financing, as more particularly described in the Company's news release dated September 19, 2014; however, the maximum amount to be raised pursuant to the Interim Financing has been reduced from $850,000 to $500,000. The company has also arranged for a bridge loan from an arm's length party for up to $300,000. Interest will accrue on the principal amount of the loan at a rate of $14% per annum and will be repayable 6 months from the date the proceeds are advanced.

Similar Private Companies By Industry

Company Name Region
A.M. Castle & Co. (Canada), Inc. Americas
Summit Crest Mining Corp Americas
Canwealth Minerals Corporation Americas
Banff Resources Ltd. Americas
Samuel Metal Blanking Americas

Recent Private Companies Transactions

Type
Date
Target
Private Placement
December 4, 2014
--
Private Placement
September 19, 2014
--
Merger/Acquisition
September 19, 2014
Whale Shark Environmental Technologies Ltd.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Clear Gold Resources Inc., please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.