Toronto's Harte Gold announced it has completed the sale of the Sugar Zone Mine in White River to Silver Lake Resources of Australia.
The Ontario Superior Court of Justice approved the US$74.5-million sale on Jan. 28.
In a Feb. 28 news release, Harte said all of its executive team and board of directors resigned following the closing of the transaction. Vanishing also are all of the previously issued and outstanding shares of the company, "cancelled without consideration."
Harte's only mining asset was the Sugar Zone Mine, which entered commercial production in 2019, as well as more than 81,000 hectares of minerally prospective land near the town of White River, roughly halfway between Sault Ste. Marie and Thunder Bay.
Cash-starved Harte entered creditor protection in December. Perth-headquartered Silver Lake came upon the scene in late 2021 as a 'stalking horse' bidder and staved off an undisclosed second bidder during an auction process in January.
