July 13, 2018 ~ Maritime Resources Corp., owner of Hammerdown Mine near King’s Point, yesterday announced that Anaconda Mining Inc. has formally withdrawn their bid to acquire all outstanding Maritime shares.
Anaconda had made a hostile move earlier in 2018 to take over Maritime by putting an offer directly to Maritime shareholders.
Maritime stated in a July 12th news release that their “advisors and management have worked hard to demonstrate to our shareholders that the bid, as proposed by Anaconda did not truly reflect that value of the Hammerdown asset.”
Maritime had been working to bring their Hammerdown Mine, located just off King’s Point road, back into production.
Doug Fulcher, President, CEO commented in the news release:
“…We are pleased to have this hostile bid behind us allowing work to recommence on advancing our Hammerdown gold project. We will now pick up where we left off with an aggressive work program to advance both Hammerdown and the Whisker projects”.
Maritime Resources has recently completed additional financing and it stated it will now resume its planned work at Hammerdown.
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[Top photo is Hammerdown mine entrance, Maritime Resources Corp. photo]