Belmont Resources has inked a deal to acquire more than 253 hectares of mineral rich land from David Heyman & Clive Brookes. The land is part of Greenwood Mining in Canada's gold-rich West. This mergers and acquisitions news has been touted as an arm's length acquisition and includes rich copper and gold mining lands that have been mined as far back as the turn of the 20th century.
Exploration of the lands in the 1990s showed areas of the land that have a high probability of having gold and silver. Belmont is expected to conduct its own sampling of the lands but has agreed with the historical data presented to it. Millions of dollars have been spent in mining exploration of the lands over the last few years.
Before the acquisition is complete, Belmont must give the vendors 750,000 common shares of the company at 10 cents per share over a two-year period. Return royalties have also been agreed upon. Belmont Resources is a relatively new company that engages in the exploration, acquisition and development of mineral-rich properties in Canada and the United States.
Mergers and acquisitions are complicated and complex when it comes to business ventures in Canada. Having an experienced lawyer on the team may help a client to sideswipe any mistakes when it comes to these deals. A lawyer will not only review any contractual documents, but may also be able to offer guidance during the entire takeover process to ensure his or her client's best interests remain in the forefront.