Cadington Resources (CDN) is hanging up its pick axe to become an industrial and investment holding company.
It plans to acquire or merge with businesses which have substantial cash flows and/or undervalued assets.
To pay off its current liabilities and gain some working capital, Cadington will acquire all outstanding shares of 109472 Ontario by issuing 320,000 Cadington common shares.
Shareholders have yet to approve the new business plan.
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