M&As this week: Supreme Metals, Jevrois Mining, Braveheart Resources

25 January 2019 (Last Updated January 24th, 2019 10:44)

Supreme Metals has completed the acquisition of Iberian Lithium.

Supreme Metals has completed the acquisition of Iberian Lithium.

Supreme has issued 35 million common shares, 115 million non-voting and convertible Series 1 preferred shares to the shareholders of Iberian Lithium at a price of $0.02 per share, under the transaction.

The acquisition added the advanced stage Alberta II lithium exploration project to Supreme’s portfolio.

Supreme has commenced diamond drilling programme at the project, which is located in northwestern Iberia. The drilling programme is being conducted by Sondeos y Perforaciones Industriales del Bierzo and managed by Salamanca Ingenieros.

Supreme Metals is a mining company focused on producing battery-grade lithium, while Iberian Lithium is engaged in the development and exploration of lithium properties.

Both the companies involved in the acquisition are based in Canada.

Jervois Mining has entered a definitive agreement to acquire M2 Cobalt.

Jervois has agreed to provide one share for each share in M2 Cobalt, as part of the agreement.

“Braveheart has signed a $5m loan agreement with Matlock Farms to finance the transaction.”

Jervois Mining is an Australian mineral exploration and evaluation company engaged in developing nickel, cobalt and scandium properties, while M2 Cobalt is a Canada-based exploration stage company focused on discovering cobalt properties.

Braveheart Resources has completed the acquisition of Purcell Basin Minerals under a plan of arrangement.

Purcell’s equity holders will have an option to acquire up to 16.5 million units of Braveheart, with each unit consisting of one common share and warrant. Each warrant will enable the holder to buy a common share at a price of $0.15 a share for a 12-month period.

Braveheart has signed a $5m loan agreement with Matlock Farms to finance the transaction.

Braveheart Resources is an exploration company focused on silver and gold properties in south-east British Columbia, while Purcell Basin Minerals is a mining company engaged in developing the Bull River project.

Both the companies involved in the acquisition are based in Canada.

China Molybdenum (China Moly) has acquired BHR Newwood DRC Holdings for $1.14bn.

The acquisition increased China Moly’s stake in the Tenke Fungurume copper and cobalt mine to 80%, while the remaining 20% is owned by Lubumbashi-based mining company Gecamines.

China Moly is a mining and processing company focused on producing molybdenum, while BHR Newwood is a company formed by private equity company BHR.