Deals this week: Glen Eagle Resources, Mason Graphite, Teck Resources

21 May 2015 (Last Updated May 21st, 2015 18:30)

Glen Eagle Resources has received approval from the TSX Venture Exchange for its proposal to acquire Cobra Oro de Honduras.

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Glen Eagle Resources has received approval from the TSX Venture Exchange for its proposal to acquire Cobra Oro de Honduras.

Under the transaction, the company will buy 90% of all issued and outstanding shares of Cobra Oro de Honduras.

Glen Eagle will receive an additional 5% of the shares owned by the vendor or affiliates in consideration of C$125,000 increasing its ownership to 95% of all the shares outstanding.

Mason Graphite has signed two agreements with Group NanoXplore.

A perpetual exclusive license agreement has been signed to use and commercialise the intellectual property for NanoXplore's Thinned Graphite and Graphite Thinning Process.

Secondly, Mason signed a laboratory services agreement that gives the company access to NanoXplore's research and laboratory facility for product development.

Teck Resources has acquired 1,500,000 units of Artha Resources for $0.12 per unit.

Each unit comprises one common share and one-half of one warrant, with each whole warrant entitling the holder to purchase for two years from the date of issuance a common share of Artha at an exercise price of $0.18 per share.

"The shareholders approved the transaction by 185,369 votes in favour to 1,285 against."

Teck Resources made the acquisition in connection with the termination of an option agreement between the company and Artha on an exploration property.

Lara Exploration has announced that the shareholders of Phillips River Mining approved the proposed transaction to acquire the Kiwanda Phosphate Alliance and Kiwanda Coal Alliance companies and assets.

The shareholders approved the transaction by 185,369 votes in favour to 1,285 against.

At present, Lara holds a diverse portfolio of prospects and deposits in Brazil, Peru, Colombia and Chile.

Golden Share Mining has acquired 50% interests for the 15 units claim where the past producing Berens River Mine is located.

Located 200km north of the City of Red Lake in the Favourable Lake Greenstone Belt of Northwestern Ontario, the property comprises 30 claims or 355 units.

It also includes a past producing Berens River Mine operated by Newmont Mining from 1939 to 1948.


Image: Several companies have signed deals this week. Photo: courtesy of stockimages/FreeDigitalPhotos.net.