Axcap Ventures Inc. (CNSX:AXCP) signed a letter of intent to acquire PGV Patriot Gold Vault Ltd. for approximately CAD 0.71 million on July 15, 2024. Under the terms of the LOI, in consideration for the 100% interest in PGV, the Company will issue an aggregate of 4,583,333 common shares in the capital of the Company to such shareholders of PGV who are selling their PGV shares. The Consideration shares shall be exchanged at a ratio of one (1) Consideration Share per common share in the capital of PGV.

The Consideration Shares will be issued following, and conditional upon, closing of the Company?s private placement announced on July 5, 2024. Completion of the Proposed Transaction remains subject to a number of conditions, including: the completion of the Company?s private placement announced July 5, 2024, the satisfactory completion of due diligence; the receipt of any required regulatory approvals; the negotiation of definitive documentation. PGV has signed letters of intent to acquire the Cracker Creek Project located in Oregon and Rattlesnake Hills Project in central Wyoming.