Great American Minerals Exploration, Inc. entered into a binding letter agreement to acquire Golden Queen Mining Consolidated Ltd. (TSXV:GQM.H) in a reverse merger transaction on October 28, 2019. A special committee of the independent directors of Golden Queen has been appointed by the board of directors of Golden Queen and will be working to settle the terms of a definitive agreement reflecting the Proposed Transaction. Following the closing of the Proposed Transaction and subject to the approval of the TSXV, the shares of the Resulting Issuer will be listed on the TSXV. Upon completion of the Proposed Transaction, Dennis McDowell is expected to continue as Chief Executive Officer of the Resulting Issuer. The board of directors of the Resulting Issuer is expected to be comprised of seven members, consisting initially of six directors as determined by Great American Minerals (which will include Dennis McDowell) and one director as determined by Golden Queen. The completion of the Proposed Transaction will be subject to requisite shareholder, court and regulatory approval, including the approval of the TSX Venture Exchange and a number of additional conditions precedent, including the negotiation and execution of a definitive agreement and Great American Minerals causing the completion of a subscription receipt financing at $1.00 per subscription receipt for proceeds of not less than $10 million and up to $15 million. Great American Minerals Exploration, Inc. cancelled the acquisition of Golden Queen Mining Consolidated Ltd. (TSXV:GQM.H) in a reverse merger transaction on November 18, 2019. Golden Queen and Great American Minerals Exploration have mutually agreed to terminate the Letter Agreement.