Skeena Resources Limited (TSXV:SKE) made an offer to acquire Sona Resources Corp. (TSXV:SYS) for CAD 1.3 million in stock on March 21, 2016. Skeena Resources Limited (TSXV:SKE) entered into a letter of intent to acquire Sona Resources Corp. (TSXV:SYS) for CAD 1.3 million in stock on March 30, 2016. Skeena Resources Limited (TSXV:SKE) entered into a definitive agreement to acquire Sona Resources Corp. (TSXV:SYS) for CAD 1.3 million in stock on June 27, 2016. Under the terms of the agreement, Sona Resources Corp. shareholders will receive 0.5111 of one common share of Skeena Resources Limited for each common share of Sona Resources Corp pursuant to which Skeena will issue 14.9 million of its common shares. Skeena has advanced Sona of CAD 0.06 million to date as a non-refundable deposit and has further agreed to advance an aggregate loan amount of up to CAD 0.2 million available in multiple draws. Post-acquisition, Sona Resources Corp will become a wholly-owned subsidiary of Skeena Resources Limited and former holders of common shares of Sona will hold approximately 4.07% of the outstanding common shares of Skeena Resources Limited. Unsecured and unrelated creditors of Sona will be offered a debt settlement in the form of cash and/or Skeena shares. Post-acquisition, Sona’s common shares will be delisted from the TSX Venture Exchange and it is expected that Skeena will apply to cause Sona to cease being a reporting issuer under applicable Canadian securities laws. Skeena retains the right to match any superior proposal. In case of termination, Sona will pay a fee of CAD 0.1 million to Skeena. Skeena will pay to Sona a non-refundable deposit of CAD 0.03 million and an additional CAD 0.03 million if Skeena decides to extend the negotiation period by 30 days. The transaction was approved by the Board of Directors of Skeena Resources Limited and Sona Resources Corp. The deal is subject to approval of the shareholders of Sona Resources Corp., approval of the Supreme Court of British Columbia and all applicable regulatory authorities, including the TSX Venture Exchange. Certain Directors and officers and certain shareholders of Sona who hold approximately 31% of Sona shares have agreed to voting and support agreements with Skeena in support of the deal. The Board of Directors of Sona Resources unanimously recommends the shareholders to vote for the transaction. As of September 9, 2016, deal was approved by the shareholders of Sona. The deal is expected to close on or about September 12, 2016. Fasken Martineau DuMoulin LLP acted as the legal advisor for Skeena Resources Limited. McCullough O'Connor Irwin LLP acted as the legal advisor for Sona Resources Corp. Ross Glanville & Associates Ltd. and Bruce McKnight Minerals Advisor Services acted as the fairness opinion providers for Sona Resources Corp. Computershare Investor Services Inc. acted as registrar, transfer agent and depository for Skeena and Sona. Skeena Resources Limited (TSXV:SKE) completed the acquisition of Sona Resources Corp. (TSXV:SYS) on September 15, 2016.