Dia Bras Exploration Inc. (DIB.V: Quote) Wednesday announced a letter of intent pursuant, agreeing to acquire all the outstanding shares of Plexmar Resources Inc. (PLE.V) at a price of $0.01 per share, payable in cash.
All the outstanding warrants and options to acquire common shares of Plexmar will be canceled for no consideration by way of a statutory plan of arrangement.
The acquisition is subject to the execution of definitive agreements, approval by the Plexmar shareholders, regulatory and court approvals, and other customary closing conditions.
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by RTT Staff Writer
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