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Benz Mining terminates Fox Automotive Switzerland acquisition

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Benz Mining terminates Fox Automotive Switzerland acquisition

Benz Mining Corp. terminated the reverse takeover of Fox Automotive Switzerland AG.

The company said that Fox Automotive was not in a position to provide the necessary public disclosure information required for a reverse takeover transaction in a timely manner.

"Given the current uncertainties in global markets it was not clear that the parties would be able to complete the proposed transaction," Benz said Jan. 7.

The company will continue development at its Mel zinc-lead project in Canada's Yukon Territory, look to acquire other mineral properties, and review other business opportunities.