Central Resources Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Central Resources Corp announces merger with Canadian Uranium Financing
Central Resources Corp:Enters into a letter of intent to acquire all of the issued and outstanding securities of Canadian Uranium Corp. (CANU), an arms'-length private British Columbia mining exploration company.Says acquisition is expected to be structured as a three-cornered amalgamation between Central, CANU and a wholly owned subsidiary of the company, whereby CANU will amalgamate with Central's subsidiary to form a new entity (Amalco).Says shareholders of CANU will receive common shares of the company in exchange for their common shares of Canadian Uranium on the basis of one CBC Share for every one and a half (1.5) CANU Shares, and the company will acquire all of the issued and outstanding common shares of Amalco.Says it will also change its name to Canadian Uranium Inc or a similar name in connection with the Acquisition.Completion of the acquisition is subject to a number of conditions, including, but not limited to the receipt of all necessary regulatory, corporate and third party approvals, compliance with all applicable regulatory requirements.Completion of the private placements for gross proceeds of not less than $700,000. It is expected that the acquisition will constitute a Reverse Takeover (RTO) under the rules and policies of the TSX Venture Exchange.
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