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The transaction is to be formalized in a share sale and purchase agreement between the parties, whereby BMEx will acquire shares of a subsidiary company owned by Adventus.
Adventus Zinc Corporation (TSXV:ADZN) has announced that is has entered into a heads of agreement to vend its Lismore, Fermoy, Millstreet and Charleville exploration projects in Ireland to the privately-owned Australian exploration company BMEx Limited in return for shares in BMEx.
The transaction is to be formalized in a share sale and purchase agreement between the parties, whereby BMEx will acquire shares of a subsidiary company owned by Adventus. Adventus shall retain its Rathkeale and Kingscourt exploration project interests in Ireland.
Sam Leung, vice president of corporate development at Adventus said:
“Following Adventus’ Newfoundland consolidation transaction with Canstar Resources in 2018, we are pleased to announce this transaction with BMEx to consolidate and advance several prospective exploration projects in south-western Ireland. This transaction also provides exposure to additional quality base metal projects in Ireland, world class base metal regions in Australia, and a team with a track record of successful discoveries – while allowing Adventus to further focus its efforts on its advanced-stage Curipamba project and exploration in Ecuador.”
Click here to read the full Adventus Zinc (TSXV:ADZN) press release.
