TORONTO, ON (WSAU) â Toronto-based Aquila Resources has announced that it will be selling its interest in two Wisconsin metal deposits to a private company called Newco.
According to the two sides, theyâve reached a handshake agreement on a Letter of Intent which values the Reef Deposit in the Town of Easton and another Wisconsin deposit at about $7 million Canadian, or roughly $5.8 million US.
The deal still requires regulatory approval and other factors. The closing date for the sale was not specified.
Very few details about Newco were made available. According to the news release from Aquila, the company plans to list itself on the Canadian Stock Exchange following the closure of the deal.