RX Gold & Silver Inc. (TSXV:RXE,OTCQX:RXEXF) announced that it will be merging with US Silver Corp. (TSX:USA) to form US Silver & Gold Inc., a new company that will focus on several US-based projects.
According to the press release, highlights of the transaction include:
Two – 100% owned U.S. based precious metal operations that deliver immediate cash and one silver re-development asset:
- Combined production base of 2.7 million ounces of silver and 26,500 ounces of gold
- Opportunities for significant resource growth, brownfield development and operational and head office synergies
- Geographic concentration of assets that allows for near term focus on improving mine planning and execution of cost reduction strategies