Ortac Resources has entered a binding agreement with Casa Mining to acquire an additional 33.82% issued share capital of the latter for £1.1m ($1.43m) in stock.
As part of the agreement, Ortac will issue 38,277,354 new ordinary shares priced at £0.02 ($0.02) a share.
The company has agreed to convert the $2m convertible loan note issued by Casa Mining at a share conversion price of $0.5586, subject to successful closure of the acquisition.
Following the acquisition and the loan note conversion, Ortac Resources will hold 7,848,594 shares of Casa Mining, equivalent to 70.09% of the issued share capital. Ortac has also made an offer to acquire the remaining issued share capital from the minority shareholders of Casa Mining.
Ortac Resources has engaged SP Angel Corporate Finance as nominated advisor and broker, and Celicourt Communications as public relations advisor for the transaction.
Based in the UK, Ortac Resources is engaged in the exploration and development of natural resource projects, while Casa Mining is a Mauritius-based company involved in the exploration of gold.
Centerra Gold has reached an agreement to acquire the entire issued and outstanding common shares of AuRico Metals for C$310m ($243.09m).
The company plans to finance the acquisition through a combination of a new $125m acquisition facility and will pay C$1.80 ($1.41) a share in cash to AuRico Metals.
Centerra Gold has engaged Scotia Capital as its financial advisor and Stikeman Elliott as legal advisor for the transaction. AuRico Metals has engaged Macquarie Capital Markets Canada as financial advisor and Fasken Martineau DuMoulin as its legal advisor for the transaction.
Centerra Gold is engaged in gold mineral exploration, while AuRico Metals is a mining development and royalty company.
Both companies involved in the transaction are based in Canada.
Aust-China Resources Group has agreed to acquire the AustSino Resources Group for a purchase consideration of A$795,000 ($520,000).
As part of the transaction, Aust-China Resources will purchase up to 265 million fully paid ordinary shares priced at A$0.003 ($0.00229) each.
The target company is an Australia-based mineral exploration company engaged in the development of iron ore mines.