Creston Moly Acquires Tenajon Resources
Creston Moly (CVE:CMS) annouced today that the company has entered into a Letter Agreement to merge with Tenajon Resources (CVE:TJS). Creston Moly will acquire the shares of Tenajon by issuing 0.84 Creston shares for each Tenajon share.
Tenajon brings a three molybdenum projects and perhaps more important, $3m in cash as of Dec. 2008.
Colin Benner, Chairman of Creston Moly is quoted as saying:
The combination of Creston and Tenajon creates a company that has excellent prospects for internal growth, and the scale of resource base to take advantage of what we believe will be an eventual turn-around in the moly space
Click here to see the full press release.
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Wed, May 27, 2009
Post by Melissa Pistilli, Moly Senior Reporter