Red Leopard Holdings is acquiring the recently established Red Leopard Mining for £600,000 in shares at 1.8p each.
The acquisition holds 205 unencumbered claims in a part of Idaho that is known for its silver resources. The cover a total land area of approximately 1,435 hectares - equivalent to 3,546 acres.
This deal is classed as a reverse takeover and the shares are being issued to Quest Minerals Corporation, which will have a 14.8% stake. Howard Crosby is a 50% shareholder in Quest and he will join the Red Leopard board. The other directors will own 23.2% of the enlarged share capital after a placing raising £350,000 at 0.5p a share.
At 0.75p a share, down 0.1p, Red Leopard is valued at £1.69m.
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