Alaros signs LoI for Nevada tungsten exploration leases

From mining-technology.com

Alaros Exploration has signed a letter of intent (LoI) with 1001528518 Ontario (the target) to obtain exploration leases for tungsten sites in Nevada, US. This acquisition will involve purchasing the target, which currently leases the properties. As part of the agreement, Alaros Exploration will issue a total of 10.5 million common shares at $0.05 each to the shareholders of the target, in exchange for all its outstanding shares. This transaction values the target at C$525,000 ($384,696). Alaros currently has 15,391,557 common shares in circulation. The properties include the Toy Property, with five claims in ... (full story)