SMM, 29 / 12 / 2017, Marcventures Holdings,Inc. Announced plans to merge with (BHI), Brightgreen Resources Holdings, and (APMPC), Pilot Mining Philippines, Asia, to form Marcventures Holdings. On Jan. 2, the local Securities and Exchange Commission, (SEC), approved Marcventures's application to increase its authorized share capital from the current 2 billion to 4 billion, with a face value of P1 per share, divided into 4 billion shares.
APMPC also owns (BARI), a bauxite resources company that owns 5435 hectares of mining areas in Gandara, San Jose de Buan, and Wright, Samar.
Marcventures said the merger with APMPC would give it control of AMPI and BARI, whose mineral resources are bauxite, the main raw material for aluminium. Bauxite is a high-value raw material for the production of aluminum alloy, which is important for aerospace, transportation, construction and a variety of production lines. At the same time, BHI is the owner of BrightGreen Resources Corporation. The company has about 4860 hectares of Carrascal and Cantilan mineral resource sharing agreements in Surigao del Sur.
As a result, the merger will enable Marcventures to develop its business, diversify its products and expand its sources of revenue.
Marcventure said the merger with BHI would enable it to increase its nickel reserves and seek possible entry into nickel processing.
Marcventures holds the Mineral Resources sharing Agreement, which covers 4799 hectares of land in Cantilan, Surigo, Canada. The company's main product over the past three years has been nickel.
Shanghai Nonferrous Metals Network (SMM) Yan Cedar
