Natural Resources USA Corp. (OTC:NTRC) said Monday the proposed short-form merger of the company with majority owner Green SEA is slated to close on December 28 this year.
Shares of Natural Resources rose 7.8 cents, or 16.57 percent, to 55 cents a share today on the OTC, or over the counter market.
Following the merger, each outstanding share of Natural Resources' – other than those shares already owned by Green SEA– would be converted into the right to receive 57 cents in cash.
Natural Resources' board is not required to approve the merger and a shareholder vote is also not necessary.
Still, the merger will become effective only following the filing of articles of the merger with the Utah Divisions of Corporations and Commercial Code, which is slated for December 28.
Natural Resources USA Corp, formerly AmerAlia, is focused in the business of identifying and developing natural resource assets.
The company owns Natural Soda Holdings, which it acquired back in 2010. It has large-scale deposits of naturally occurring sodium bicarbonate, or baking soda, in addition to water assets on its sodium leases.
No comments:
Post a Comment