Midlands Minerals Corp. announced on Monday that plans to acquire all shares of Alder Resources, Ltd. were approved at a recent shareholder’s meeting.
Midlands Minerals is a Canadian resource company with common shares that trade on the TSX Venture Exchange. Alder is a resource company focusing on the development of gold and base metal projects throughout the Americas.
The deal gives Midlands approval to acquire all outstanding shares of Alder for consideration of 1.81 common shares of Midlands and a preconsolidation basis.
At a Midlands Board of Directors meeting that followed the the shareholders' meeting, Alder President and CEO Don Dude was appointed to Midlands Board of Directors to replace James Garcelon, who decided to step down.
"Don is a geologist with an in-depth knowledge of Rosita and Nicaragua and brings invaluable expertise to our board as we advance the Rosita project," Midlands President and CEO Craig Pearman said.
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