Deals executed Toronto-based miner Minera Alamos has announced the implementation of merger agreements between its Mexican subsidiary, Cobre 4H de Sonora de Mexico, and Minera Gold Copper de Sonora, a Mexican company.
“Pursuant to the agreements, share ownership in the Cobre subsidiary will be divided between Minera Alamos (50%) and the existing shareholders of Minera Gold Copper (50%). The combined subsidiary will now own Minera's Los Verdes and Potreritos copper projects as well as Minera Gold Copper's Suaqui Verde copper project as well as certain rights to additional surrounding claims associated with the Suaqui Verde copper district,” Minera Alamos said in a statement.
The Toronto-based miner believes that its “acquisition of the Suaqui Verde project complements the Company's Los Verdes and Potreritos copper projects and is a key project in a pipeline of low capital intensity copper development assets,” according to the statement.
The value of the deal was not disclosed.