Virgin Metals Inc. cancelled the acquisition of Alpaca Resources Inc. from Foundation Financial Holdings Corp.
The transaction is subject to a number of conditions including, TSX Venture Exchange acceptance, regulatory approvals, satisfactory completion of due diligence by Virgin Metals and Alpaca, completion of satisfactory concurrent financing of at least CAD 1.5 million, absence of any adverse material changes, maintaining a level of liabilities acceptable to both parties, and if applicable pursuant to exchange requirements, majority of the minority shareholder approval. The transaction is expected to close on or before July 31, 2013. Jeanny So of CHF Investor Relations acted as public relations advisor to Virgin Metals.
Virgin Metals Inc. (TSXV:VGM) cancelled the acquisition of Alpaca Resources Inc. from Foundation Financial Holdings Corp. on January 2, 2014. The transaction was terminated based on certain expired conditions.