On March 2, 2020 Wallbridge Mining Company Limited (“Wallbridge”) and Balmoral Resources Ltd. (“Balmoral”) announced (see announcement under News Releases to the right) that the two parties had entered into an Arrangement Agreement whereby Wallbridge will acquire all of the issued and outstanding shares of Balmoral. The proposed Acquisition will be accomplished by way of a share exchange whereby Wallbridge will issue 0.71 of a Wallbridge common share to each Balmoral shareholder in exchange for each 1.0 Balmoral common share held as at the record date of the proposed Transaction.
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