Americas Bullion Advances Planned Reorganization
HAYDEN, ID - Americas Bullion Royalty Corp. has entered into a binding letter of intent (LOI) to acquire the securities portfolio of Kudu Partners, L.P. in exchange for AMB shares. The Portfolio, estimated to have a current market value of approximately $21 million, is composed of cash, marketable securities and certain illiquid securities.
The Transaction is a final step in the Company’s change of business as contemplated under the corporate reorganization plan announced on December 17th, 2013. William M. Sheriff will continue in his role as Chairman & Chief Executive Officer. Negotiations are underway with William A. Lupien to direct the management of the Company’s securities portfolio following the corporate reorganization.
With the acquisition of the Portfolio, AMB expects to bring together a talented team to create a unique corporate entity that combines royalties, equity holdings, a reinsurance business and innovative investment strategies. This unique, non-traditional approach creates a diversified investment company with significant upside potential that will be well positioned for future growth by capitalizing on access to capital and markets not typically available in the resource sector.