Impact: Mildly Positive
Blackwolf announced that it has entered into an LOI to acquire Optimum Ventures Ltd. (TSXV:OPV, Not Rated) in an all-share transaction, through which it will acquire the Harry property. Blackwolf is also augmenting its leadership team ahead of commencing fully funded exploration and drilling programs in 2023, appointing Mr. Robert McLeod as Executive Chairman, Mr. Morgan Lekstrom as CEO and Director and Mr. Andrew Bowering as Director. We view the transaction positively for the company given it will bring Mr. Andrew Bowering, a well-known mining executive, into the Blackwolf story as a director and significant shareholder. This adds further weight to the shareholder roster following Mr. Frank Giustra’s investment in the latest financing. We believe the Harry property is ripe for a potential discovery and complements Blackwolf’s existing portfolio of assets on both the U.S. and Canadian sides of the Golden Triangle. In our view, Blackwolf continues to gain critical mass as it aims to become a significant player in the Golden Triangle..
