Market Movers: First Majestic Silver to Acquire Primero Mining

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    First Majestic Acquires Primero Mining

    First Majestic Silver Corp. (TSX:FR) has entered a definitive agreement to acquire Primero Mining Corp. (TSX:P) in an all-stock transaction valuing Primero at $0.30 a share. Shares of Primero went up by 125% to $0.27 at market close on Friday following this news.

    92 Resources Corp. (TSX-V:NTY) has received sampling results of up to 2.57% lithium oxide from its recently completed 2017 field program at the Hidden Lake lithium project in the Northwest Territories.

    Spearmint Resources Inc. (TSX-V:SRJ) has closed its acquisition of the WHY West magnesium project near Rossland, B.C., and the Buddy claims in the Golden Triangle of British Columbia.

    Global Cannabis Applications Corp. (CSE:APP) has joined the Medical Cannabis Counsel of Australia as a premiere member. The counsel is an industry body which develops best practices and standards for producing, supplying and distributing medical cannabis products in Australia.

    Royal Sapphire Corp. (TSX-V:RSL) will not be proceeding with its acquisition of the Beardmore gold property in Ontario and the Tessa gold property in Yukon. The company has also reduced its private placement to $500,000 from $1.5 million.

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    Author Jackson Chen
    About the author: In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.