Kellogg Mining Firms Cut Deal On Buyout

Kellogg-based New Jersey Mining Co. said it will buy Plainview Mining Co., also of Kellogg, so it can reach more investors.

New Jersey began a state public offering in January. Plainview has no active mine properties, but is traded on the over-the-counter bulletin board. New Jersey Mining officials said the listing was one of the main reasons they purchased the company.

“(The listing) will enhance our ability to raise funds,” said Vice President Grant Brackebusch.

New Jersey Mining will buy the company in a stock purchase agreement. For every share of Plainview, stock holders will receive two shares of New Jersey, company officials said.

New Jersey is developing gold ore reserves and expanding mine operations at the New Jersey gold mine in the Coeur d’Alene Mining District. , DataTimes