M&As this week: Treasury Metals, IFB Industries
Treasury Metals has entered an agreement to acquire 100% stake in Goldeye Explorations.
Under the deal, Treasury Metals will issue approximately 5,005,359 of its common shares at an exchange ratio of 0.100 for each Goldeye common share held, which is equivalent to a deemed price of C$0.065 ($0.049) per each Goldeye common share.
The final agreement on the transaction is expected to be made in the first week of August 2016. The transaction will provide Treasury Metals the ownership to the latter’s flagship Weebigee high-grade gold project near Sandy Lake, north-western Ontario, Canada.
IFB Industries has completed the acquisition of a majority 51.12% stake in Trishan Metals. The deal represents 12 million shares of Trishan Metals.
IFB Industries is a manufacturer of home appliances and fine blanking components, while Trishan Metalsis is a manufacturer of low, medium and high-carbon steel strips and steel coils.