Vancouver – In a three-way aimed at creating a company focused on copper exploration in the Americas, Bell Resources (BL-V) is merging with Grandcru Resources (GR-V) and privately-held Rogue River Resources.
The merger will be a stock-swap, with each share of Bell being exchanged for one share in the new company, each Grandcru share traded for one-quarter of a new share, and each share of Rogue River swapped for 1.8 new shares.
Stock in the new company will then be consolidated on a two-for-one basis. Still subject to shareholder and regulatory approval, if the merger goes through the new company will maintain the name Bell Resources.
Rogue River’s main asset is the La Balsa copper project in the state of Michoacan, Mexico. The company has completed $3.9-million of the $4.7 million worth of instalment payments to earn a 100% interest in the project, which is being developed for near-term copper production.
La Balsa has grid power to the site and is situated only 14 km from the port of Lazaro Cardenas. A nearby water reservoir is sufficient ot meet production demands and, because the region has a history of ore mining, experienced labour is available.
Grandcru holds the Nipigon uranium project in Ontario, the Danny Boy gold project in Nevada, the Rockhill gold project in Nevada, the Berta copper project in Chile, and the gold-silver Guadalupe project in Mexico.
Bell, with a current stock market value of $29.9 million, fell 10 cents to 40 cents on the news. Grandcru, valued at $8.8 million, went down 3.5 cents to close at 9 cents.
Be the first to comment on "Bell, Grandcru, and Rogue River to merge"