Imperial Metals (TSE:III) announced today that they have signed a definitive agreement to acquire all the outstanding shares of Selkirk Metals (CVE:SLK).  The purchase price is $0.12 per Selkirk share or one Imperial share for each 30 Selkirk shares.  With 87.5 million shares outstanding, this puts a value on Selkirk of approximately $10.5 million.

From Imperial’s press release:

Since it commenced operations, Selkirk has focused on the exploration and development of the Ruddock Creek Zinc/lead project and the Catface copper project. Both properties have a defined resource and development potential.

Click here for the full press release.

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