Take physic, pomp

Sunward and NovaCopper: Electrum consolidates

Mr. Kaplan decides that paying for one office worth of G&A is smarter than paying for two, which in fact makes sense. Sunward’s been a disaster and Rick Van Alphabet’s getting bored with the people who won’t build the road, so here we are. NR here, how it starts here:
VANCOUVER , April 23, 2015 /CNW/ – NovaCopper Inc. (TSX, NYSE-MKT: NCQ) (“NovaCopper”) and Sunward Resources Ltd. (TSX: SWD; OTCQX: SNWRF) (“Sunward”) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which NovaCopper has agreed to acquire all of the issued and outstanding common shares of Sunward by way of a court approved plan of arrangement (the “Arrangement”). 
The combination of NovaCopper and Sunward will create a leading exploration and development company with a strong balance sheet of approximately US$23 million in cash for the advancement of the Arctic and Bornite deposits located in the Ambler mining district of Alaska , USA.  The company plans to advance the Arctic deposit towards feasibility with a US$8-10 million field program this summer.  Meanwhile, plans are underway to maximize shareholder value at the Titiribi exploration asset in Colombia.  Sunward has focused on community engagement at its Titiribi project and with its talented and experienced Colombian management team, has built a strong reputation with local communities. 
Under the terms of the Arrangement, Sunward shareholders will receive 0.3 (the “Exchange Ratio”) of a NovaCopper common share (“NovaCopper Share”) for each Sunward common share (“Sunward Share”) held.  The Exchange Ratio represents the equivalent of US$0.1841 per Sunward Share based on yada yada numbers stuff and VWAP and all sorts of wonderful business-speak continues here

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