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Buchans Minerals Corp. (TSXV:BMC) and Minco plc (LSE:MIO) announced that Minco has completed its acquisition of Buchans; the company is now a wholly owned subsidiary of Minco.
Buchans Minerals Corp. (TSXV:BMC) and Minco plc (LSE:MIO) announced that Minco has completed its acquisition of Buchans; the company is now a wholly owned subsidiary of Minco.
As quoted in the press release:
Pursuant to the Arrangement, Minco acquired, through its wholly-owned subsidiary, 8501297 Canada Inc. (“MIO Sub”), all of the issued and outstanding common shares of Buchans Minerals (“Buchans Shares”) that Minco did not already own and shareholders of Buchans Minerals (“Buchans Shareholders”) received 0.826 of an ordinary share of Minco (“Minco Share”) for each Buchans Share held.
An aggregate of 124,642,196 Minco Shares were issued under the Arrangement in reliance on an exemption from the prospectus requirements under securities legislation available for an arrangement under statutory procedure.
Click here to read the full Buchans Minerals Corp. (TSXV:BMC) and Minco plc (LSE:MIO) press release.