Reuters logo
BRIEF-Top Strike Resources announces proposed transaction
September 29, 2016 / 1:32 PM / a year ago

BRIEF-Top Strike Resources announces proposed transaction

Sept 29 (Reuters) - Top Strike Resources Corp

* Top Strike Resources Corp. announces proposed transaction

* Pursuant to LOI, corporation, subject to entering into a definitive agreement will pay $40 million

* Transaction payable by way of combination of C$2.5 million in cash and 300 million common shares of co at C$0.125 per top strike share

* Entered into binding letter of intent dated Sept 24, with Australia stock exchange listed company, MMJ Phytotech Limited

* Co will undertake concurrent equity financing of 100 million top strike shares for c$12.5 million at price not less than C$0.125per share

* Upon completion of transaction and financing, top strike shareholders will own approximately 3.9% equity of pro forma entity Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below