Canasia industries to acquire Mexican mining company for about $720,000

Vancouver, B.C. - Canasia Industries Corp. (TSXV: CAJ) said Tuesday it has reached the deal to purchase all the shares of mining companies Exploraciones Las Joyas Mexico SA de CV

Vancouver-based junior miner said all-stock transaction will see the eight million shares in exchange for all shares Exploraciones.

Canasia shares ended Monday trading at nine cents per share on the Venture Exchange in Toronto Stock Exchange, giving the estimated transaction value of $ 720,000.

Canasia said it signed a letter of agreement with Exploraciones last week, adding the two sides plan to complete the transaction by May 15.

Pending regulatory approval, the transaction is scheduled to close by July 31.

Canasia shares ended Monday trading at nine cents per share on the Venture Exchange in Toronto Stock Exchange, giving the estimated transaction value of $ 720,000.

Canasia said it signed a letter of agreement with Exploraciones last week, adding the two sides plan to complete the transaction by May 15.

Pending regulatory approval, the transaction is scheduled to close by July 31.
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