Breakwater acquires American Pacific

At a special meeting in early March, shareholders of American Pacific Mining (TSE) approved an agreement that has resulted in the company amalgamating with a wholly owned subsidiary of Breakwater Resources (TSE). Under the terms of the agreement, shareholders of American Pacific will receive three shares of Breakwater for every one share of American Pacific.

Breakwater has a 49% interest in the Cannon gold mine in Washington State in addition to a large Canadian property portfolio. The company recently announced plans to develop the Estrades polymetallic mine in Quebec and it also has an indirect equity interests in the Caribou Zinc mine at Bathurst, N.B. American Pacific’s main asset is the producing El Mochito base metal mine in Honduras.