LONDON (Alliance News) - Bezant Resources PLC on Wednesday said it has exercised its option to acquire 100% of Leewards Islands Exploration LLC, spending USD2 million.
Bezant will pay USD1.0 million in cash to acquire the group and will issue another 37.3 million in shares to cover the rest of the consideration at 1.88 pence per share. Bezant shares were untraded on Wednesday, having last traded at 1.98p.
Leewards holds options over alluvial, platinum and gold mining licences in the Choco area of Colombia, and Bezant said it was taking advantage of the currently depressed commodities market to make the acquisition at an attractive price.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Bezant Res (BZT)