Pacific Silk Road Resources Group Inc. (TSXV:PP) signed a definitive share purchase agreement to acquire 55% stake in Allied Minerals Inc. from Hong Kong International Mineral Exchange Limited for CAD 0.1 million on January 28, 2022. Pacific Silk Road Resources Group Inc. will issue 4 million common shares as consideration for the acquisition. The consideration shares will be subject to a four-month resale period in accordance with the policies of the TSX Venture Exchange. The share purchase agreement provides for customary representations, warranties and closing conditions, including, among other things, the approval of the TSX Venture Exchange for the acquisition and the listing of the consideration shares for trading on TSX Venture Exchange. The conditions to closing in favor of Pacific Silk Road Resources Group Inc. also include the discharge and release of any liabilities and debts owing by Allied Minerals to any third parties. The closing is expected to take place during the second quarter of 2022.

Pacific Silk Road Resources Group Inc. (TSXV:PP) cancelled the acquisition of 55% stake in Allied Minerals Inc. from Hong Kong International Mineral Exchange Limited on February 22, 2023.