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January 12, 2018

M&As this week: Integra Resources, PetroCorp Group, Pegasus Metals

Integra Resources (formerly Mag Copper) has acquired 100% interest in Empire Claim Group for $1.6m. 

Integra Resources (formerly Mag Copper) has acquired 100% interest in Empire Claim Group for $1.6m.

Empire Group claims cover more than 95% of the historical Florida mountain gold-silver project.

The acquirer company is a Canadian mineral exploration company, while the target company is a gold and silver exploration company based in the US.

PetroCorp Group has signed a letter of intent with First Lithium Minerals to acquire all of the latter’s issued securities.

The company will issue 73,050,334 common shares to First Lithium’s shareholders, which represents 91.3% share of the issued and outstanding common shares.

The acquirer company is a blank check company, while the target company is engaged in the exploration and development of lithium projects in Chile.

“Pegasus has agreed to issue 12 million shares priced at $0.02 a unit as part of the agreement.”

Both companies are based in Canada.

Pegasus Metals has signed an agreement to acquire a 100% of Scorpion Minerals for A$360,000 ($280,000).

Pegasus has agreed to issue 12 million shares priced at A$0.03 ($0.02) a unit as part of the agreement.

The Pegasus is engaged in copper exploration, while Scorpion is a mineral exploration company.

Both companies involved in the transaction are based in Australia.

Ortac Resources has acquired an additional 2.7% stake in Casa Mining increasing its stake to 87.4%.

Based in Australia, Ortac Resources is a gold exploration company, while Casa Mining is a mining company based in Mauritius.

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