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Nevada Copper in Agreement with Pala Investments to Purchase 17.8% of Mercator Minerals
Nevada Copper Corp. (TSX:NCU) entered into a share purchase agreement with Pala Investments Limited, where Nevada Copper agrees to purchase an aggregate of 46,000,000 common shares of Mercator Minerals Ltd., approximately 17.8% of the issued and outstanding common shares of Mercator from Pala Investments.
As quoted in the press release:
Pala Investments is currently an insider of Nevada Copper and holds an aggregate of 27,381,981 common shares of the Company representing approximately 37.4% of the current issued and outstanding common shares. Upon completion of the Share Purchase, Pala Investments will hold an aggregate of 34,696,981 common shares of the Company representing approximately 43.1% of the then-issued and outstanding common shares of the Company.