Mr. Yari Nieken reports
Margaret Lake Diamonds Inc. (TSXV:DIA) (OTC:DDIAF) (FSE:M85A) (“DIA” or the
“Company”) announces the termination of the definitive agreement for the reverse takeover
(“RTO”) of Emerging Goldfields Resources Ltd. (“Emerging Goldfields”), which was initially
announced on December 28, 2023.
The amalgamation agreement, which outlined the proposed reverse takeover transaction and
included the acquisition of Emerging Goldfields’ 80% interest in a portfolio of three gold-silver
projects with a combined 43-101 compliant resource of 3.29 million ounces of gold and 22.88
million ounces of silver, has been mutually terminated by the parties.
The decision to terminate the agreement follows a reassessment of strategic objectives by both
Margaret Lake Diamonds and Emerging Goldfields. Despite significant efforts, the parties were
unable to satisfy all necessary regulatory approvals and shareholder requirements within a
reasonable time frame and the parties have mutually decided to terminate the proposed RTO.
The Company would like to express its appreciation to all parties involved for their efforts and
cooperation during the negotiation process. Margaret Lake Diamonds remains committed to its
strategic goals and will continue to explore alternative opportunities to enhance shareholder value.
Further updates regarding the Company’s future plans will be provided as they develop.
About Margaret Lake Diamonds Inc.
Margaret Lake Diamonds Inc. is a company focused on the exploration and development of
mineral projects.
For Further Information:
Margaret Lake Diamonds Inc.
Yari Nieken – CEO
604-328-0425
ynieken@gmail.com
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities
laws. These statements reflect management’s current expectations, assumptions, and projections
about future events. Actual results may differ materially from those expressed or implied. The
Company disclaims any obligation to update or revise these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.