Bermuda-domiciled Till Capital has signed two engagement agreements with two different and undisclosed investment banking firms for the sale of its wholly-owned Canadian subsidiary Omega Insurance Holdings, and its Springer Tungsten Mine and Mill Complex located in Pershing County, Nevada.
Till Capital stated that although potential buyers have been identified, no definitive agreement for the sale of either of these assets has been reached, nor can any assurances be given as to the potential outcome or timing of any transaction, should it occur.
The company added that it does not intend to disclose or comment on developments related to these processes unless and until the board has approved a specific transaction or otherwise determined that further disclosure is appropriate.
Till's management and board of directors believe that the sale of Holdings and the Springer Project will allow Till to focus on increasing shareholder value and its original business strategy. Further details regarding the impact of those sales may be found in the Company’s third-quarter filings on EDGAR and SEDAR.
Till Capital, Bermuda, M&A, Omega Insurance Holdings, Canada, North America