Adventus Zinc divests Newfoundland base-metal exploration assets to Canstar Resources

31 July 2018
Client work

On July 31, 2018, Canstar Resources Inc. (TSXV: ROX) announced that it had completed the previously announced acquisition of the Newfoundland base-metal exploration assets of Adventus Zinc Corporation (TSXV: ADZN). In exchange,  Adventus acquired 86,681,695 common shares of Canstar (approximately 38% of the issued and outstanding common shares of Canstar) for a value of approximately $6 million.

Toronto-based Adventus is focused on base metals exploration and project development globally. The company is earning a 75% ownership interest in the Curipamba copper-gold-zinc project in Ecuador and has large prospective land packages in Ireland. In addition, Adventus has a country-wide exploration alliance with its partners in Ecuador, incorporating two projects to date.

Gowling WLG advised Adventus Zinc with a team that included Denis Silva and Tara Amiri-Khaledi.

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