Dec 23 (Reuters) - Brightstar Resources Ltd (BTR) : BRIGHTSTAR...

Dec 23 (Reuters) - Brightstar Resources Ltd (BTR) :

• BRIGHTSTAR RESOURCES AND KINGWEST RESOURCES AGREE TO A MERGER VIA A KINGWEST SCHEME OF ARRANGEMENT
• BRIGHTSTAR WILL ACQUIRE 100% OF SHARES IN KINGWEST
• ALEX ROVIRA TO BE APPOINTED AS MANAGING DIRECTOR OF BRIGHTSTAR
• KINGWEST SHAREHOLDERS TO RECEIVE 1 BRIGHTSTAR SHARE FOR EVERY 0.44 SHARES HELD AT SCHEME RECORD DATE
• SCHEME IS UNANIMOUSLY RECOMMENDED BY BOARD OF KINGWEST
• BRIGHTSTAR TO RAISE A$1.6M AT AN ISSUE PRICE OF A$0.016 PER SHARE
• UPON IMPLEMENTATION KINGWEST SHAREHOLDERS WILL HOLD APPROXIMATELY 43% AND BRIGHTSTAR WILL HOLD 57% OF MERGED GROUP