This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange gained 10.08 points to 813.29 Wednesday. Ken Ralfs's halted NEX shell, Angel Bioventures Inc. (DDD), plans to acquire Argentine mineral explorer Huayra Minerals Corp. In connection with the acquisition, the shell will split its shares 5 for 1, leaving it with 5,944,260 postsplit shares issued. It has not yet said how many shares it will issue to Huayra's shareholders, but on closing of the transaction as well as a $1.5-million financing (the terms of which are not yet available), the resulting issuer will have 54,205,493 shares issued. Angel Bioventures will use the financing proceeds to finance acquisition costs and for its resulting issuer's exploration expenses and working capital.

Huayra has an option to earn a 100-per-cent interest in the Diablillos and M-18 gold-silver projects from Silver Standard Resources Inc. (SSO: $17.55). On closing of Huayra's acquisition by Angel Bioventures, the resulting issuer's largest shareholder will be Silver Standard, with 19.9 per cent of shares.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS