NEWS ROUNDUP — Kingswood now controlling Acadia

Toronto-based junior Kingswood Resources (ASE) has acquired a 51% interest in Acadia Mineral Ventures (TSE) from Hecla Mining (NYSE).

In exchange for the controlling interest, Hecla received $350,000 and five million Kingswood treasury shares. Hecla has also granted Kingswood President Wayne O’Connor an option to buy certain shares of Kingswood held by Hecla and a right of first refusal on several Kingswood shares to be sold by Hecla. In addition, Hecla has granted two other Kingswood shareholders options to buy Kingswood shares.

As part of the transaction, Kingswood also acquired Hecla’s interest in three claims in the Northwest Territories.

In other news, MPH Consulting and Ausnoram Holdings have each bought, by way of a private placement, 583,333 Kingswood shares and the same amount of Kingswood share purchase warrants. Both parties have also been granted an option to buy 500,000 Kingswood shares from a third party for a 2-year period.