Overton to amalgamate with Newfoundland Exp.

Toronto-based Overton Energy and Resources has agreed in principle to amalgamate with private company called Newfoundland Exploration, Overton said recently.

“Newexco’s” principle asset is the Handcamp property in Newfoundland’s Central Mineral Belt.

Under the proposed amalgamation, Overton shareholders will receive one common share of the amalgamated company for each two common shares of Overton currently held. Newexco shareholders would be entitled to one common share of the new company for each share held.

Following the resignation of the previous directors, Hubert Harnett is now Overton’s President while Miller Ayre is the company’s new secretary-treasurer.