Dia Bras Exploration Inc. (TSX-V:DIB) and Plexmar Resources Inc. (TSX-V: PLE), following renewed discussions are pleased to announce that Dia Bras and Plexmar have entered into a letter of intent pursuant to which Dia Bras will acquire all of the outstanding common shares of Plexmar at a price of $0.01 per common share, payable in cash, and all outstanding warrants and options to acquire common shares of Plexmar will be cancelled for no consideration by way of a statutory plan of arrangement.
Daniel Tellechea, President and CEO of Dia Bras, commented “Under the terms of this new agreement, we expect Plexmar’s assets combined with the resources and management team of Dia Bras in Peru have the potential to accrete significant value to the precious metals business base of the Company in the medium term.”
