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Excalibur receives approval to acquire specialty streaming, royalty finance firm

ExcaliburResources Ltd. said July 15 that its nonbinding letter of intent toacquire a specialty streaming and royalty finance company for 10 million sharesin Excalibur has been accepted.

As part of the transaction, the streaming company's currentmanaging director will assume the roles of Excalibur's president and director.

The company's active investment pipeline, comprising 10potential deals totaling more than US$50 million, is expected to generate US$15million in annual cash flow from public and private gold and silver miningcompanies.