Metallica Metals Corp (OTCMKTS:MTALD) Stock In Focus On Acquisition News
Metallica Metals Corp (OTCMKTS:MTALD) was one of the companies which had come into focus on Tuesday owing to a major new announcement and it may be a good move from investors to take a closer look into it. The company announced yesterday that it had gone into a purchase agreement dated May 16, 2023 with some arm’s length parties.
Trading Data
On Tuesday, MTALD stock moved up 26.56% to $0.1830 with more than 1K shares, compared to its average volume of 1.24K shares. The stock moved within a range of $
0.1830 – 0.1830 after opening trade at $0.1830.
Metallica Metals Announces Proposed Acquisition of Mineral Assets
By way of this particular agreement, the company would acquire some mineral claims located in the Province of Quebec. The property in questions consists of a total of 46 claims spread across an area of 2583 hectares in the Waswanipi-Saguenay Zone in the province.
In order to complete the transaction Metallica Metals Corp would issue the sellers with a total of 8000000 common shares in the company’s capital with the deemed price of $0.13 each.
It should however be noted that all the securities that are going to be issued as part of the transaction are all going to be subject to a hold period of four months and a day from the day of issuance as per the applicable securities laws. Metallica Metals is a junior mining company in Canada and is listed on the Canadian Securities Exchange.
