Canuc Resources ( (TSE:CDA) ) has shared an update.
Canuc Resources Corp. and Macdonald Mines Exploration Inc. have announced a delay in their proposed acquisition transaction, where Canuc will acquire all shares of Macdonald Mines. The delay is due to the anticipated trading halt for Macdonald Mines shares not occurring as planned, leading to an adjusted closing date. Macdonald Mines will be delisted from the TSXV, with the transaction expected to close around May 7th. This acquisition could impact Canuc’s operations by expanding its resource base and market presence, while Macdonald Mines’ shareholders will receive shares in Canuc, potentially affecting their investment portfolios.
More about Canuc Resources
Canuc Resources Corporation is a junior resource company founded in 1952, focusing on the San Javier Silver-Gold Project in Sonora State, Mexico. The company also generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA. MacDonald Mines Exploration Ltd., founded in 1935, is a mineral exploration company focused on precious and critical metals properties in Ontario, with its flagship SPJ Project near the Sudbury Mining Camp.
Average Trading Volume: 40,973
Technical Sentiment Signal: Sell
Current Market Cap: C$11.2M
See more data about CDA stock on TipRanks’ Stock Analysis page.