Galaxy Ventures Inc. to Merge with TruSilver Metals Corp.

Galaxy Ventures Inc., a capital pool company on the TSX Venture Exchange, has signed a definitive agreement with TruSilver Metals Corp. to form a new entity through a three-cornered amalgamation. The transaction is expected to qualify as Galaxy's Qualifying Transaction, marking its transition into mineral exploration, focused on TruSilver's Sturgis-Walton Silver Project in Nova Scotia.

The resulting issuer will own all TruSilver securities, advancing exploration at the Sturgis-Walton site, known for historical high-grade silver findings. TruSilver holds full ownership of the project without royalties. Financial plans include raising $2.5 to $5 million, with Galaxy contributing up to $800,000 and consolidating its shares 2.5:1 before the merger.

The leadership post-merger will see Michael Gross as CEO and Jim Michaelis as VP of Exploration. The venture, subject to required approvals and financing, aims to enhance TruSilver's exploration advancements, maintaining a neutral business outlook in the mineral sector.