Sendero Mining Corp. (formerly QRS Capital Corp.) (
TSX: V.SM) and Halo Resources Ltd. (
TSX: V.HLO) said that effective July 9, 2013, they have completed the business combination by way of a plan of arrangement.
Upon completion of the arrangement Halo became a wholly owned subsidiary of Sendero.
According to the
Halo press release, immediately prior to the completion of the arrangement, QRS Capital Corp. completed the name change to "Sendero Mining Corp." and consolidated its issued and outstanding share capital into approximately 20 million common shares.
Prior to the completion of the arrangement, 2.2 million Sendero shares held by Halo were cancelled.
Under the terms of the arrangement, Sendero acquired all of the outstanding common shares of Halo in exchange for approximately 20 million units of Sendero.
Each Sendero unit consists of one common share and one share purchase warrant.
Each warrant will entitle the holder to purchase one Sendero common share for one year at a price of $0.40 per share, subject to adjustment in certain circumstances.
Trading in Halo shares has been halted and the shares of Halo will be delisted from the TSX Venture Exchange.
Sendero is a mineral exploration company with properties in Canada and South America.