Magna Resources Ltd has completed the acquisition of the remaining 50% of US-based American Potash LLC, which was 50:50 owned with Confederation Minerals Ltd, the two Canadian companies announced.
At closing, Confederation Minerals transferred to Magna Resources its interest in American Potash in exchange for 22.42m common shares and 2.4m common share purchase warrants while Confederation subscribed for Magna’s common shares equivalent to $2m.
As a result of the transaction, Confederation...