Draco Resources Inc. cancelled the agreement to acquire Armco Metals Holdings, Inc in a reverse merger transaction.
On August 25, 2014, Armco Metals Holdings, Inc amended the share purchase agreement with Draco, Metawise and Metawise's shareholders. Under the terms of the amendment agreement, Armco Metals Holdings agreed to acquire 40% stake in Draco from Metawise in exchange for 51 million shares of common stock. On September 22, 2014, Armco Metals Holdings, Inc amended the share purchase agreement with Draco, Metawise and Metawise's shareholders. Under the terms of the amendment agreement, Armco Metals Holdings agreed to acquire 31.37% stake in Draco from Metawise in exchange for 40 million shares of common stock.
Draco Resources Inc. cancelled the agreement to acquire Armco Metals Holdings, Inc (AMEX:AMCO) in a reverse merger transaction on January 30, 2015.