Alberta-listed New Island Minerals (NIM) intends to acquire mining assets from CDN-listed Newfoundland Goldbar Resources (NGR).
Included are 51% of the shares of Tiara Marble. NIM will retain ownership of the Glover Island gold property in central Newfoundland.
In other news, NIM has received shareholder approval to proceed with an 8-for-1 share consolidation in conjunction with the NGR transaction. After the transaction, NIM will have 8.5 million shares outstanding.
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