M&As this week: Osisko Mining, Broadway Gold Mining, Epiroc

26 October 2018 (Last Updated October 26th, 2018 10:20)

Osisko Mining has completed the acquisition of Beaufield Resources.

Osisko Mining has completed the acquisition of Beaufield Resources.

Each former shareholder of Beaufield will receive 0.0482 of a common share of Osisko in exchange for each common share of Beaufield, as part of the acquisition.

The acquirer is a mineral exploration company focused on the acquisition, exploration and development of precious metal resource properties in Canada, while the target company is engaged in mineral exploration. Both parties are based in Canada.

Broadway Gold Mining has signed a binding letter agreement with Medcolcanna (BVI) Corp for the reverse takeover of the former by existing Medcolcanna shareholders.

Holders of the issued and outstanding Medcolcanna shares will receive one post-consolidation Broadway common share for every common share they hold in Medcolcanna, as part of the transaction.

Broadway Gold is a Canadian mining company focused on the development of the Madison copper-gold project in the US, while Medcolcanna is a privately held issuer incorporated under the laws of the British Virgin Islands.

“Following the acquisition, Fordia will become a part of Epiroc’s Rock Drilling Tools division based in Montreal.”

Epiroc has agreed to acquire Fordia Group with the aim of increasing its focus on the exploration segment.

Following the acquisition, Fordia will become a part of Epiroc’s Rock Drilling Tools division based in Montreal.

The acquirer is a Swedish productivity partner for the mining, infrastructure and natural resources industries, while the target company, based in Canada, is engaged in manufacturing exploration drilling tools.

Supreme Metals Corp has signed a definitive share purchase agreement for acquiring all the issued and outstanding shares of Iberian Lithium.

Supreme has agreed to issue 35 million common shares and 115 million non-voting, convertible series 1 preferred shares to the shareholders of Iberian Lithium at a price of $0.02 a share as consideration for the acquisition.

The agreement also includes the acquisition of all the assets of Iberian Lithium, including its current option on the Alberta II lithium property in Galicia, Spain, with Strategic Minerals.

The acquirer company is an exploration company focused on developing green and energy metals, while the target company focuses on the acquisition and development of lithium properties in Portugal and Spain. Both entities are based in Canada.