WISCO completes acquisition of a 24.99% interest in Century Iron Mines for C$60.8 million
Date Closed
May 19, 2011
Lead Office
Vancouver
Value
60.80 Million CAD
On May 19, 2011, WISCO International Resources Development & Investment Limited ("WISCO") acquired 24.99% of the issued and outstanding shares of Century Iron Mines Corporation, the resulting issuer upon completion of the Qualifying Transaction which involved the acquisition of Century Iron Ore Holdings by Red Rock Capital Corp., a capital pool company) for an aggregate price of C$60,877,653, or C$2.62429 per share. This forms part of a larger transaction pursuant to a Framework Agreement entered into between the parties on January 25, 2011, whereby WISCO intends to enter into one or more joint venture agreements with Century in relation to its Duncan Lake, Attikamagen and Sunny Lake iron ore properties.
WISCO International Resources Development & Investment Limited, based in Hong Kong, engages in iron ore mining.
Century, with offices in Toronto, Ontario and Hong Kong, is an exploration and development company of iron projects in Canada.
McCarthy Tétrault LLP represented WISCO, as acquiror, with a team led by Joyce Lee.
