Geotech To Merge With Subsurface Mapper Aeroquest

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
6MM
Description

Acquired subsurface data analyzer for worldwide mineral &petroleum industries, gaining airborne geophysics surveys, aerial geomatics surveys & custom design and construction of geophysical sensors & instruments

Aurora, Ontario-based Geotech Ltd. has closed its purchase of Aeroquest International Ltd., Toronto, (Toronto: AQL) for C$5.6 million in cash.

Geotech paid C$0.15 per Aeroquest share.

Aeroquest collects and interprets subsurface data for the worldwide mineral and petroleum industries. The company also provides precision-mapping of the surface. Aeroquest offers airborne geophysics surveys through Aeroquest Airborne, aerial geomatics surveys through Aeroquest Mapcon, and the custom design and construction of geophysical sensors and instruments through Geophex.

Fraser Milner Casgrain LLP was legal advisor to Aeroquest. Dundee Securities Ltd. was financial advisor to Geotech.