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Golden Saint to exit mining with acquisition of wiring systems firm

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Golden Saint to exit mining with acquisition of wiring systems firm

Golden Saint Resources Ltd. intends to exit the mining sector with the proposed acquisition of EMS Wiring Systems Pte. Ltd. via a reverse takeover, according to a Dec. 18 release.

Singapore-based EMS is a supplier, installer and maintenance provider of structured cabling systems.

The company also seeks to off-load its existing diamond operations in Sierra Leone and undertake a share consolidation.

Upon completion of the deal, the company will appoint new board members, including a group finance director and an independent U.K.-based nonexecutive director. It will also change its name to Golden Saint Technologies Ltd. to reflect its new business direction.

The proposed transaction is subject to due diligence, documentation, shareholder approval and compliance with all regulatory requirements.