IN BRIEF: Wishbone Gold agrees reverse takeover of chair's company
Wishbone Gold PLC - Gibraltar-registered miner with projects in Western Australia - Signs non-binding heads of terms for the acquisition of Evrensel Global Natural Resources Ltd, a Gibraltar-based company owned by Wishbone's new chair, Tony Moore. The deal constitutes a reverse takeover of Wishbone, so its shares were suspended from trading on AIM and AQSE from Thursday. As the target is a private company entirely owned by Moore, it also is a related party transaction. Evrensel was formed only in July of last year and has not yet prepared any financial statements. However, Wishbone says it has "interests and access to transactions" in mineral exploration and trading in North Africa and southern Africa. The expanded company will focus on Africa but retain its Australia assets. It is expected to be 30% owned by Wishbone's existing shareholders and 70% by Moore. Read More