Vancouver's Galena Capital Corp. (TSX-V:FYI) plans to acquire Norma Canada in an all share deal worth roughly $9.7 million.
The acquisition will give Galena two mineral properties in Mexico and four in Peru in exchange for 4.2 million Galena shares.
As part of the deal, Galena will also acquire more than a dozen exploration geologists and mining engineers headed by Norma Canada president Danson Tolman.
The deal is subject to customary closing and regulatory approvals as well as a $3 million private placement that will fund the purchase and exploration of the properties acquired.
Galena's share price range during the past week: between $2.17 and $2.30; 52-week high: $2.61; 52-week low: $0.22.