Brighton Mining Group (BTN) is aiming to become an integrated manganese miner and trader following its proposed acquisition of Asia Minerals Corporation (AMC), an unlisted company with a focus on the exploration for and production of manganese, and on the operation of a marketing and trading platform for small to medium sized steel producers.
Its flagship project is the Kefa Manganese Operation in Indonesia where AMC proposes to implement world-leading exploration, processing and environmental practices to develop a vertically integrated manganese production and marketing enterprise. Brighton is offering to acquire all AMC shares via issue of 23 Brighton shares for every 1 AMC share held.
Concurrently, Brighton is offering to acquire a related entity, the unlisted Brighton Mining Ltd (BML), on the basis of 5 BTN shares and 5 options to acquire BTN shares on or before December 31, 2016, for every 3 BML shares.
BML holds two gold exploration licenses in Cambodia. In addition and as part of the acquisitions, BTN will seek to raise US$5 million via issue of 25 million shares following a consolidation of capital.