<article><a href="https://www.dealstreetasia.com/?s=Marcventures" target="_blank" rel="noopener">Marcventures Holding Inc</a>, engaged in mineral development in the Philippines, is merging with <a href="https://www.dealstreetasia.com/?s=APMPC" target="_blank" rel="noopener">Asia Pilot Mining Philippines Corp (APMPC)</a>, and <a href="https://www.dealstreetasia.com/?s=BHI" target="_blank" rel="noopener">BrightGreen Resources Holdings Inc (BHI) </a>in a deal valued at $22.1 million (P1.125 billion).</article>

<a href="https://www.dealstreetasia.com/?s=Marcventures" target="_blank" rel="noopener">Marcventures Holding Inc</a>, engaged in mineral development in the Philippines, is merging with <a href="https://www.dealstreetasia.com/?s=APMPC" target="_blank" rel="noopener">Asia Pilot Mining Philippines Corp (APMPC)</a>, and <a href="https://www.dealstreetasia.com/?s=BHI" target="_blank" rel="noopener">BrightGreen Resources Holdings Inc (BHI) </a>in a deal valued at $22.1 million (P1.125 billion).
The company plans to issue a total of 1.125 billion shares priced at P1.00 apiece for the merger, that is 675 million shares in favor of APMPC shareholders, and 450 million shares in favor of BHI shareholders.
Both APMPC and BHI will be folded into Marcventures subject to approval of the shareholders.
APMPC is the owner of Alumina Mining Philippines Inc (AMPI) and Bauxite Resources Inc (BARI) that both operate in 6,694 hectares, and 5,435 hectares of mining areas in Samar province, respectively.
The merger with APMPC will allow Marventures to gain control of AMPI and BARI, whose mineral resource is bauxite ore ― the main raw material of aluminium.
Marcventure also expects the merger to grow its business, diversify its products and expand its source of income.
The company noted bauxite has been observed to be more stable in prices as compared to other commodities even during the slump of metal prices.
BHI, however, is the owner of BrightGreen Resources Corp (BRC) that mines approximately 4,860 hectares of Carrascal and Cantilan, in Surigao del Sur.
BHI as a mining tenement is adjacent to Marcventures&#8217; wholly-owned subsidiary <a href="https://www.dealstreetasia.com/?s=MMDC" target="_blank" rel="noopener">Marcventures Mining and Development Corp (MMDC)</a>, engaged in mineral production within 4,799 hectares located in Cantilan, Surigao del Sur.
Marcventures disclosed its objective in merging with BHI is to gain control of BRC in order to increase the nickel reserves of MHI’s owned nickel mines pursuant to a possible venture into nickel processing.
MMDC&#8217;s main product for the past three years has been nickel ore. It has identified nickel ore as the primary mineral that will be extracted and sold to third parties due to the abundance and favorable characteristics of nickel within the mineral property.
The Marcventures unit has always cited China as the principal market for nickel ore production from the Philippines.
Marcventures last traded on the local bourse at P2.03 per share on Monday, September 11.
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Marcventure expects the merger to grow its business as a holding company engaged in mineral development in the Philippines.

Philippines: Marcventures merges with two mining firms

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Philippines: Marcventures merges with two mining firms

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