M&As this week: BRS Ventures, Indus Energy
BRS Ventures has reached a deal with First Mining Finance to acquire a 100% interest in Minera Terra Plata in exchange for six million post-split shares.
The acquisition will provide BRS Ventures the ownership rights to Peñasco Quemado, La Frazada and Pluton silver projects, while First Mining will receive a 2.5% net smelter return from these projects and own 7.2% stake in BRS on a post-split basis.
BRS has also announced it plans to change its name to Silver One Resources.
Indus Energy has signed an option agreement to acquire 100% stake in IMD Gold Mines in exchange for A$1.65m ($1.18m), corresponding to the offering of approximately 78.72 million shares to the shareholders of IMD.The deal forms part of Indus Energy’s aim to create a new ASX-listed gold producer for developing and expanding production-ready assets in the near future.