As per the terms of the binding agreement, TurkPower will buy 99.9% outstanding shares of Zinco do Brasil Mineracao and will change the name of the company to Zinco do Brasil.
The company will also appoint Ahmet Calik, and Jose Mendo de Souza of Ouro do Brasil along with James D Davidson, Adriano Espeschit, Edward Dowling, Juvenil Felix, and Ryan E. as the board of directors.
TurkPower has mining interests in Russia and a minority interest in the iron ore Kuluncak mine in Turkey.
US-based TurkPower is a junior mining company; and Ouro do Brasil is a privately owned company with business interests in the mining space, particularly in Brazil.
