04:09 PM EST - Southwestern Resources Corp. : announced Monday that it has entered into a Letter of Intent after having agreed to fuse with Geoinformatics Exploration Inc. on a merger-of-equals basis. If the transaction came through, Southwestern would issue 0.6 of each of its shares for each Geoinformatics share. The financial terms of the deal were not disclosed. Geologic Resource Partners LLC, which holds about 84.88 per cent of Geoinformatics shares, has indicated its support for the transaction. However, discussions are currently at an early stage and with no certainty if the parties would enter into a definitive agreement to complete the transaction. The companies seek to create a new gold focused exploration and development company with a strategic property portfolio in mining friendly jurisdictions, through the amalgamation. Southwestern Resources Corp.
shares T.SWG are trading down $0.015 at $0.24.
