William negotiates Bharti acquisition

Montreal-based William Resources (ME) has negotiated a deal to acquire Bharti Laamanen Mining for $4 million.

William plans to issue $3 million worth of common shares (3.5 million shares at 85 cents per share) and a $1-million debenture convertible into 1 million shares at $1 per share.

Assets of Bharti include a 40% interest in BLM Minera Mexicana S.A. de C.V. (which owns several past-producing polymetallic sulphide mines and a concentrator in Mexico’s Durango state) and a mining service business in Sudbury, Ont.

The deal requires regulatory and shareholder approval.