Brief: Top Strike Resources announces proposed transaction

Vencanna Ventures

29/09/2016 14:03

Sept 29 (Reuters) - Top Strike Resources Corp  TSRh.V  
    * 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:  ID:nCCNbZ4ZNK  
Further company coverage:  TSRh.V  
 
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