VMS Ventures Inc. (TSX.V:VMS) is a mining and mineral exploration company currently in partnership with Hudbay Minerals on the producing Reed mine near Flin Flon Manitoba. VMS holds a 30% interest in the Reed mine which is operated by Hudbay Minerals and achieved full production in 2014.

 

 

Latest News Release

RNC Completes Acquisition of VMS Ventures

 
Royal Nickel Corp. has completed the previously announced acquisition of VMS Ventures Inc. by way of a plan of arrangement pursuant to which RNC has acquired all of the issued and outstanding common shares of VMS.

 

Pursuant to the plan of arrangement, VMS has become a wholly-owned subsidiary of RNC, and all of the issued and outstanding common shares of VMS were transferred to RNC in consideration for the issuance by RNC of an aggregate of 36,000,000 RNC common shares and CDN$3,507,000 to the former shareholders of VMS.

 

"With the acquisition of VMS now complete, I am pleased to add the diversification of a second producing asset to the RNC portfolio. Exposure to copper production from a 30% share in the Reed Mine, located in the well-established and prolific Flin Flon-Snow Lake region in Manitoba, Canada, is highly complementary to our 66% interest in the Beta Hunt mine, a gold and nickel producing operation in Western Australia. Both Reed and Beta Hunt are cash generating assets that I expect will provide a stable platform for further growth and acquisitions. We continue to look at other opportunities in the base and precious metals space, and will not hesitate to aggressively pursue and acquire assets that create value within our portfolio," said Mark Selby, President and CEO of RNC.

 

"In the near term, I look forward to the continued ramp-up of the Beta Hunt Mine and the ability to increase RNC's ownership interest in Beta Hunt from 66% to 100% by exercising our option under a shareholders agreement with shareholders who hold the remaining 34%."

 

The option to acquire the remaining 34% of Beta Hunt is subject to shareholder approval at the Annual and Special Meeting of RNC Shareholders to be held on May 18, 2016. RNC intends to acquire the remaining 34% of Beta Hunt by the end of May 2016 in exchange for 24,324,066 RNC shares.

 

 

Legal Notice / Disclaimer

 

This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

 

Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

 

Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

 

Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.


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