Canada-based BCM Resources has signed an amalgamation agreement for the acquisition of British Columbia company Inland Explorations.

With the deal, BCM intends to consolidate a 100% ownership interest in its Thompson Knolls Cu-Au-Mo porphyry project in the southwestern part of Utah, US.

BCM president and director Dr Sergei Diakov said: “This acquisition of Inland consolidates 100% ownership of BCM’s flagship Thompson Knolls asset. BCM shareholders are poised to benefit from a simplified ownership structure as we aggressively explore the large porphyry target at TK.”

Under the agreed terms, BCM and Inland will complete an arm’s length business combination transaction by way of amalgamation, to continue as a new company, BCM Resources Corporation.

In a press statement, BCM said: “Each common share in the capital of the Company (the “BCM Shares”) that is outstanding immediately prior to the Amalgamation (other than BCM Shares held by shareholders of BCM (the “BCM Shareholders”) who exercise their dissent rights) shall be converted into one issued and fully paid and non-assessable common share in the capital of the Resulting Issuer.”

Upon completion of the transaction, former holders of BCM shares will own about 51% of the outstanding shares in new company BCM Resources.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The former holder of Inland Shares will own about 49% of the outstanding of the new company.

This deal awaits due diligence, as well as approval by BCM and Inland shareholders, among others.

Initially, BCM signed an option agreement with Inland in September 2018 for the Thompson Knolls project. Subsequently, BCM earned 51% interest in the project with the right to earn up to a 60% interest through the delivery of a pre-feasibility level study by April 2025.