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Cameo Cobalt has signed an agreement to acquire Forrest Kerr Resources.

Cameo Cobalt has agreed to acquire all issued and outstanding Forrest shares and will issue four million common shares to the Forrest shareholders in return.

The transaction is expected to be closed following the completion of private placement by Cameo Cobalt to raise gross proceeds of $300,000.

The acquirer is an energy metals exploration firm, while the target company owns the Big Mac gold exploration project in British Columbia’s Golden Triangle region.

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

Metal 7 has acquired Les Équipements Megatraction, with a view to expand its highly specialised products and solutions range.

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By GlobalData
“Genius Properties’ shareholders will receive one SpinCo share for every six Genius shares held by them, following the spin-off.”

The acquisition is part of Metal 7’s expansion and consolidation initiative aimed at becoming the leading company offering high-value products and services for the mining sector.

The acquirer is engaged in providing specialised products and solutions for the mining industry, while the target company designs and manufactures lifting equipment for hydraulic excavators used in the mining industry. Both firms are based in Canada.

Genius Properties intends to close its merger with Cerro de Pasco Resources by 31 August 2018, following a merger agreement made in November 2017.

The company intends to transfer all of its current mining properties to its wholly-owned subsidiary Genius Metals and distribute all the shares of the subsidiary to existing shareholders of Genius before closing the merger agreement.

Genius Properties’ shareholders will receive one SpinCo share for every six Genius shares held by them, following the spin-off.

The company also intends to raise a minimum of $750,500 and a maximum of $3m in a private placement of common shares and flow-through shares.

Genius Properties is a Canadian mineral exploration company focused on developing projects in Québec and Nova Scotia regions, while Cerro de Pasco Resources is a Peruvian mining company.