Montreal-listed junior Tandem Resources (ME) has sold most of its 25.3% controlling interest in Matt Berry (CDN) to GTL Investments, a private Toronto-based company.
In another transaction, Matt Berry has agreed to sell its portfolio of 500,000 shares of Tandem and 500,000 shares of Ayrex Resources (ASE) to Tand Capital, a private holding company. In exchange for the sale, Tand will assume $365,000 in debt.
The transactions have yet to be approved by regulators.
Matt Berry will seek a new business under new management.
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