07:42 AM EDT, 06/04/2025 (MT Newswires) -- International Resources Holding and Tremont Master Holdings overnight Tuesday announced that they have entered into a definitive agreement for IRH to acquire Tremont's majority interest in Alphamin Resources Corp. ( AFMJF ) .

Under the terms of the transaction, IRH will, through a wholly-owned subsidiary, acquire 718,990,967 common shares of Alphamin owned by Tremont, representing near 56% of the outstanding common shares, at a price of C$0.70 per share, for total consideration of C$503,293,677 (US$367,001,749), subject to completion adjustments which may decrease total consideration in certain circumstances set out in the definitive agreement, including as a result of distributions, dividends and payments made to Tremont by Alphamin in Tremont's capacity as a shareholder of Alphamin or otherwise, or related to the transaction which arise from September 30, 2024 to the date of closing of the transaction, other than the dividend paid by Alphamin on November 4, 2024.

IRH said this acquisition strengthens its position in the global industrial metals sector, adding a majority interest in a "highly productive and strategically important" tin asset to its portfolio. It noted Alphamin is one of the world's largest and highest-grade tin producers, playing a key role in supplying a critical raw material used in electronics, manufacturing, and industrial applications.

Immediately prior to entering into the definitive agreement regarding the transaction, IRH did not own any common shares and, upon completion of the transaction, IRH will own 718,990,967 common shares, representing approximately 56% of the outstanding common shares.

Tremont upon completion of the transaction will continue to hold 10,133,592 common shares, representing approximately 0.8% of the outstanding common shares.

AFM closed unchanged at $0.91 yesterday.