Buscar Company, Inc. (OTC: CGLD) announced today that it has reached an agreement to conduct a reverse merger with gold mining operator, Eon Discovery. EON holds the rights to mining claims held by Treasure Canyon Enterprises, Inc. (TCEI) in Plumas County California (https://thediggings.com/owners/1172267).
Based on mutual confidence that this agreement will move forward quickly, both parties agreed that a simple press release today was important in order to address recent inquiries as to the long-term future of the company.
These are the answers to recent inquiries along with other relevant points related to this strategic move:
- This reverse merger will involve a change of leadership and a completely new management infrastructure.
- The agreement provides that No Reverse Split will take place as part of this transaction and that the Company may not perform a reverse split for the next 18 months, thereby, protecting the current shareholders' positions.
- The EON management & operations team currently consists of 9 key individuals with plans to ramp up to well over 100 employees once the operation reaches full mining capacity.
- As of today, OTCMarkets is up to date on the current share structure.
- This move will also involve bringing the company current on OTCMarkets.
All parties involved expect this reverse merger to be completed by June 30, 2020. A new company website for Eon Discovery, Inc. is under construction. In the interim, a link to the appraisal for the 200 acre Treasure Canyon Lode Mines is available for review at https://cgldinfo.com.