Another example of this M&A resurgence came to a light this morning when American Resources Corporation’s (NASDAQ:AREC) subsidiary American Infrastructure Corporation, a raw material supplier to the infrastructure marketplace with a focus on iron ore, titanium and metallurgical carbon, entered into a binding term sheet to merge with CGrowth Capital, Inc. (OTC PINK:CGRA) as part of its spin out from American Resources Corporation.
Mark Jensen, Executive Chairman of American Infrastructure Corporation, commented, “We believe this merger with CGrowth Capital represents a significant milestone for American Infrastructure and its shareholders, advancing our goal of achieving a senior exchange listing and providing a pathway for capital to support growth initiatives, both organic and through strategic acquisitions”.
Under the terms of the Share Exchange Agreement, American Infrastructure Corporation will become a wholly owned subsidiary of CGrowth Capital, Inc., which will change its name to American Infrastructure Holding Corporation.
The news was welcomed by investors of CGRA with shares of that company up 60% to $0.0056 while shares of AREC popped 11.36% to $0.7648 in late-morning trading.
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