Conwest Exploration Co. has agreed to purchase 1,964,814 shares (a 1 2.6% interest) of Mineral Resources International for $7,015,000. Conwest will satisfy the purchase price through the issue of 719,448 Conwest Class B common shares. The transaction is subject to regulatory approval.
Mineral Resources, which is traded on The Toronto Stock Exchange, owns 100% of the Nanisivik mine, a 200-ton-per-day zinc-lead- silver mine in northern Baffin Island, and also has oil and gas production interests in Saskatchewan and Alberta.
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