Japan Gold was formed in September 2016 when Southern Arc Minerals Inc. vended its wholly-owned Japanese subsidiary, Southern Arc Minerals Japan KK (“SAMJ”), to Sky Ridge Resources Ltd. SAMJ had filed 80 mineral prospecting rights license applications in Japan, with the objective of exploring targets prospective for both epithermal gold and porphyry copper-gold mineralization. The Company has since increased its project portfolio to 173 prospecting rights license applications, 32 of which have been granted as Prospecting Rights
As part of the transaction, Sky Ridge Resources completed a private placement financing at C$0.20 per share for gross proceeds of C$7,000,000. Upon closing of the transaction, Sky Ridge Resources consolidated its shares on a one-for-two basis, changed its name to Japan Gold Corp., and commenced trading on the TSX Venture Exchange under the symbol “JG”.
Japan Gold is the first foreign mineral exploration company to focus solely on gold opportunities in Japan. The Company is well financed to undertake a substantial exploration program to rapidly advance the Japan prospecting licenses, and has an experienced leadership team with the technical and business expertise required to build a successful exploration and mining company in Japan.