Teck Resources Limited has announced that it has acquired 12 500 000 common shares of Sun Metals Corp., at a cost of CAN$0.28 per common share for an aggregate purchase price of CAN$3 500 000. The shares were acquired privately on 20 December 2018 pursuant to a donation arrangement (the acquisition).
As a result of the acquisition, Teck holds 12 500 000 common shares of Sun Metals, or approximately 13.8% of Sun Metals’ outstanding common shares. Sun Metals is a mineral exploration company focused on advancing its flagship Stardust project located in northcentral British Columbia, Canada.
Prior to the completion of the acquisition, Teck did not hold any shares of Sun Metals. The acquisition was made for investment purposes. Teck may determine to increase or decrease its investment in Sun Metals depending on market conditions and any other relevant factors.
Read the article online at: https://www.globalminingreview.com/finance-business/28122018/teck-invests-in-sun-metals/