Golden Touch Resources (TSXV:GOT,FWB:0GT) announced that Mediterranean Resources (TSX:MNR) is acquiring Golden Touch Australia.

As quoted in the press release:

GOT understands that it is Mediterranean’s current intention to spin out the chromite assets to a standalone vehicle in a distribution to its shareholders. The chromite asset acquired from Golden Touch will be combined with other chromite assets in Albania and elsewhere to make a chromite-specific exploration mining entity.

Click here for the Golden Touch Resources (TSXV) press release.