DealsJun 12, 2026, 05:31 PM
Caro Holdings Buys 49% Stake in Tanzanian Mines for 20M Shares
AI Summary
Caro Holdings Inc. has entered into an Asset Purchase and Acquisition Agreement with Goldrange Resources Corp. to acquire a 49% undivided interest in certain mining properties located in Tanzania. In exchange, Caro will issue 20,000,000 shares of its common stock to Goldrange. This transaction is being conducted in reliance on the exemption provided by Section 4(a)(2) of the Securities Act, and the issued shares will bear a restrictive legend. The deal is described as a step towards a potential reverse takeover of Goldrange by Caro.
Key Highlights
- Caro Holdings Inc. to acquire a 49% interest in mining properties in Tanzania from Goldrange Resources Corp.
- Consideration for the acquisition will be the issuance of 20,000,000 shares of Caro Holdings Inc. common stock.
- The transaction is structured as an asset purchase, with Caro acquiring a 49% undivided interest in Goldrange's Project Interest.
- The agreement includes customary representations, warranties, covenants, and termination provisions.
- The shares issued to Goldrange will be unregistered, relying on the exemption under Section 4(a)(2) of the Securities Act.
- The acquisition is part of a potential reverse takeover transaction between Caro and Goldrange.
Price Impact