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SearchGold Resources to Acquire Ubika

SearchGold Resources Inc. (RSG.V) has entered into a letter of intent to acquire from the shareholders of Ubika Corp. 100% of the issued and outstanding shares in the capital of Ubika. It is expected that the combined entity, after completion of the Proposed Transaction, will qualify as a Tier 2 Industrial Issuer pursuant to the requirements of the TSX Venture Exchange.

The proposed transaction will be an arm's length transaction as the directors and officers of SearchGold presently have no interest in Ubika. Pursuant to the proposed transaction, SearchGold will be issuing 35 million common shares from treasury to the holders of the Ubika Shares in exchange for all of the issued and outstanding Ubika Shares.

Through the acquisition, the resulting issuer proposes to change its name and move away from the high risk, hard to finance business of African gold exploration into a more sustainable, financial services platform that management of SearchGold believes will add value to and be in the best interests of its shareholders.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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