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2. Background
3 Months Ended
Aug. 31, 2013
Notes  
2. Background

2. BACKGROUND

 

On March 23, 2012, the Company entered into a share exchange agreement with Placer Gold Prospecting, Inc. (“PGPI”), a Company that was formed on January 25, 2012. This share exchange agreement was treated as a reverse recapitalization, under which the legal acquiree (Placer) was treated as the accounting acquirer and the equity accounts of the Company were adjusted to reflect a reorganization. Inasmuch as Placer was treated as the accounting acquirer, whenever historical financial information is presented, it is Placer information.

 

On March 7, 2013, the Company formed a subsidiary in Baja, California.  It remained inactive until June 1, 2013 at which time it became fully operational, extracting gold from leased mining claims.