Buchans Resources Limited
Buchans Resources Limited is a Canadian mineral exploration company engaged in zinc-lead exploration and development in Canada, the United Kingdom and Ireland and in evaluating a manganese project in New Brunswick, Canada. Buchans also has an investment in base metal and silver projects in Mexico through its 22% interest in ownership of Xtierra Inc.
On November 4, 2019, Buchans announced a proposed group restructuring under a “Plan of Arrangement” whereby the shares of two of its wholly-owned subsidiaries will be distributed to Buchans Shareholders. Completion of the Plan of Arrangement is subject to a number of conditions including, but not limited to, approval by the shareholders at an Annual and Special Meeting of Shareholders to be held in Toronto on Tuesday December 10, 2019.