Draco Resources Inc. entered into a stock purchase agreement to acquire Armco Metals Holdings, Inc (AMEX:AMCO) in a reverse merger transaction on April 15, 2014. Upon successful completion of the acquisition, Draco shareholders will own approximately 72.8% of the total outstanding shares of the combined companies. The closing of the acquisition is subject to completion of due diligence, approval from shareholders, approval from shareholders of Armco at a meeting scheduled on November 17, 2014, approval for continued listing by the New York Stock Exchange and approval by any applicable governmental regulatory agency and the deal is expected to close within 10 days of the approval by the shareholders of Armco.

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.