M&As this week: Lawson Gold, Fortify Resources
Gold exploration company Lawson Gold has acquired the entire issued capital of Evandale Minerals in a stock transaction by executing a binding term sheet agreement.
The company will issue 23.33 million fully paid ordinary shares to Evandale Minerals, including an escrow period of 12 months from the issue date.
Both companies involved in the transaction are based in Australia.
The target company is a mineral exploration company that owns the Sturgeon Lake project.
Fortify Resources has reached an agreement to acquire 100% stake in DV Infrastructure, a company based in the US.
The acquirer company will offer common shares on a pro-rata basis at 1:1 ratio.
Fortify has also agreed to acquire the outstanding common share purchase warrants of the target company through an exchange of common share purchase warrants on a 1:1 ratio.
Based in Canada, the acquirer company is engaged in the acquisition and exploration of mineral properties, while the target company is focused on the development and leasing of major greenhouse projects.