💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

BRIEF-Top Strike Resources announces proposed transaction

Published 2016-09-29, 09:27 a/m
© Reuters.  BRIEF-Top Strike Resources announces proposed transaction

Sept 29 (Reuters) - Top Strike Resources Corp TSRh.V

* Top Strike Resources Corp. announces proposed transaction

* Pursuant to LOI, corporation, subject to entering into a definitive agreement will pay $40 million

* Transaction payable by way of combination of C$2.5 million in cash and 300 million common shares of co at C$0.125 per top strike share

* Entered into binding letter of intent dated Sept 24, with Australia stock exchange listed company, MMJ Phytotech Limited

* Co will undertake concurrent equity financing of 100 million top strike shares for c$12.5 million at price not less than C$0.125per share

* Upon completion of transaction and financing, top strike shareholders will own approximately 3.9% equity of pro forma entity Source text for Eikon: ID:nCCNbZ4ZNK Further company coverage: TSRh.V

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.