The takeover offer by Breakwater Resources for Novamin Inc (N.M., April 13/87) will be presented to their respective shareholders for acceptance in early May. Both companies have signed a memorandum of agreement setting out the conditions of the offer which would see one Breakwater share issued for each Novamin.
Upon approval, Breakwater President Brian G Pewsey confirms that immediate attention will be directed at Novamin’s two most advanced projects: the Darius joint venture which includes some 40,000 acres between Rouyn and Malartic in northwestern Quebec, and the Rundle project located 65 mi southwest of Timmins, Ont. “These properties are expected to provide substantial additional gold reserve potential to Breakwater’s operating mine at Wenatchee, Wash.,” he says.
Be the first to comment on "Novamin takeover"