Zinc One Resources set to buy Forrester Metals

Vancouver based mining firm Zinc One Resources Inc (CVE:Z, OTC: ZZZOF) is poised to buy Forrester Metals Inc after a court approval.

Forrester appeared before the Ontario Superior Court of Justice and received approval to proceed with the ‘plan of arrangement’ with Zinc One.

The deal is subject to Zinc One completing a private placing to raise $10mln.

Meanwhile, Zinc One shares could be more widely traded in the USA as the group  has been accepted on to the Depository Trust Company (DTC) platform.

The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corp and manages the electronic clearing and settlement of publicly traded companies.

The ability to have Zinc One’s shares trade electronically in the US provides greater convenience for investors and lowers the costs in buying and selling shares.

Benefits to Zinc One shareholders include reducing the time for stock deposits and withdrawals into brokerage accounts as well as opening up access to trade Zinc One shares electronically that was not available prior to DTC approval, creating a significantly larger potential investor base, the company said.

Story by ProactiveInvestors