Pentagon I Capital Corp. Signs Agreement to Acquire Prospectiva Resources and Focus on Brazilian Mining Project
Pentagon I Capital Corp. has entered into a binding letter agreement to acquire Prospectiva Resources Ltd., resulting in Prospectiva becoming a wholly-owned subsidiary. The transaction will lead to a reverse takeover, with Prospectiva shareholders holding a majority of Pentagon's common shares. Upon completion, the new entity will focus on the São Francisco Copper Gold Project in Brazil. Trading of Pentagon shares will be halted until necessary documentation is filed with the TSX Venture Exchange.
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Pentagon I Capital Corp. has signed a binding letter agreement with Prospectiva Resources Ltd. for the acquisition of all issued securities of Prospectiva, making it a wholly-owned subsidiary. This transaction will result in a reverse takeover, with Prospectiva's shareholders owning a majority of Pentagon's shares.
The new entity will focus on the São Francisco Copper Gold Project in Brazil. Trading of Pentagon shares will be halted until documentation is approved by the TSX Venture Exchange. Holders of Prospectiva shares will receive one common share of the Resulting Issuer for each share held. The transaction structure is contingent on further legal advice.
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