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Transpacific Closes Acquisition of the Field of Dreams Property and Announces Changes in Management and Board of Directors

Written by Customer Service on . Posted in Mergers And Acquisitions.

MELANCTHON, Ontario, Jan. 03, 2025 (GLOBE NEWSWIRE) — Transpacific Resources Inc. (“Transpacific” or the “Company”) is pleased to announce the completion of its previously announced transaction (the “Transaction”) with Goldenfire Minerals Inc. (“Goldenfire”) pursuant to which the Company has acquired from Goldenfire a total of 139 contiguous mining claims located in Tannahill, Holloway and Marriott Townships in Ontario (the “Field of Dreams Property”) in exchange for cash consideration of $100,000 and the grant of a 2% net smelter returns royalty on the Field of Dreams Property (the “NSR Royalty”). The NSR Royalty provides for an option of the Company to reduce it by 1% at any time upon the payment of $1,000,000 to Goldenfire.

For additional information relating to the Transaction, the Field of Dreams Property, and the related party considerations and matters related to the Transaction, see the Company’s news release dated November 26, 2024, and related material change report dated November 26, 2024.

Changes in Management and Board of Directors

The Company is also pleased to announce certain changes in management and the board of directors of the Company (the “Board”). Robert Dillman, Jim Renaud and Marty Huber were appointed to the Board on December 1, 2023, December 6, 2023, and September 6, 2024, respectively. Mr. Huber will serve as Non-Executive Chairman of the Board. Mr. Renaud has been appointed the Chief Executive Officer of the Company, and Mr. Dillman has been appointed the Corporate Secretary of the Company.

About Transpacific Resources Inc.

Transpacific is a Canadian-based mineral exploration company focused on the mineral exploration of properties in Northern Ontario, Canada, including the newly acquired Field of Dreams Property.

For more information, please contact:

Dr. Jim Renaud, Chief Executive Officer and Director
renaudgeological@execulink.com
519-520-0535

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