An agreement-in-principle has been reached between Sutton Resources (VSE) and the owner of Romanex International for the acquisition of the latter company. If completed, the deal will result in Sutton acquiring 100% of Romanex in return for 2.1 million shares, of which 400,000 will be free-trading.
The balance of the shares will be held in escrow to be released subject to the completion of certain phases of work on the Kabanga Nickel property in Tanzania, the Marudi Mountain property in Guyana as well as two Thai properties.
The agreement is subject to regulatory approval, a positive vote by Sutton shareholders and final documentation.
Be the first to comment on "Sutton planning to acquire Romanex"