Transactions June 13, 2011

Anconia Resources Corp. (formerly Citadel Gold Mines Inc.) Completes Reverse Takeover of 2215107 Ontario Inc.

Anconia Resources Corp. (TSXV: ARA) (formerly Citadel Gold Mines Inc.) completed a reverse takeover transaction pursuant to which it acquired all of the issued and outstanding common shares in the capital of 2215107 Ontario Inc., a private Ontario corporation with an interest in a mineral property in Nunavut. Concurrent with the closing of the transaction, Citadel changed its name to Anconia Resources Corp., consolidated its common shares on the basis of one (1) post-consolidation common share for every five (5) pre-consolidation common shares, and completed a private placement of units and flow-through units for gross proceeds of $3.5 million.

 

Wildeboer Dellelce LLP represented Citadel in connection with the reverse takeover transaction with a team that included Peter Simeon, Darryl Holyday, Nicholas Gray, Steven Vasilevski (corporate/securities), and Kevin Fritz (tax).

Wildeboer Dellelce LLP