Vilhelmia Mnerals -ESM purchase- Scott Moore-Vilhelmina AB7. Investment in Vilhelmina Minerals Inc. On September 26, 2017, the Company purchased 600,000 common shares of Vilhelmina Minerals Inc., a private company engaged in the exploration and development of metals, for CAD$600,000 ($483,420). On the date of acquisition and as at December 31, 2017, the Company held a 27% ownership interest in Vilhelmina Minerals Inc. On September 28, 2017, Vilhelmina Minerals Inc. acquired a 33% ownership interest in Vilhelmina Mineral AB (“Vilhelmina”), a private company located in Sweden, and Mr. Scott Moore, an officer and director of the Company, became a director of Vilhelmina. Management has determined the Company has significant influence over Vilhelmina Minerals Inc. The investment is considered an associate and is accounted for using the equity method. Changes in the investment in associate for the year ended December 31, 2017 were as follows:
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This is from ESM 2016 &2017 Annual report
Can some one the BOard expalin these purchases bty ES and the connection to Wilhelma Minerals Inc. to Scott Moore and another compnay Vilhelmia Mineral AB-Sweden.?
To me it doesnt make any sense and kind of confusing.