Winsome Resources Acquires shares in Power Metals following Canada’s divestment order
- Winsome Resources (WR1) acquires Hong Kong-based Sinomine Rare Metals Resources’ shares in TSX-V-listed Power Metals
- This comes after the Canadian Government ordered Sinomine and two other Chinese companies to sell their investments in Canadian critical minerals amid a national security review
- As such, the platform is acquiring the shares in Power Metals for C$2 million (A$2.2 million) in cash as well as Sinomine’s offtake rights in Power’s Case Lake project in Ontario
- Winsome says this is an “exciting opportunity” and has begun strategic discussions with Power Metals
- WR1 shares are up 2.73 per cent to trade at $1.13 at 1:31 pm AEDT
