General Metals to acquire Canada Property

General Metals Corp. of Reno said last week it struck a deal to acquire a 100-acre gold property in southeastern Ontario, Canada, from 635329 BC Ltd.

The Reno company said it will pay $140,000 (Canadian) and 700,000 of its shares, which were trading at 19 cents last week, for the property. General Metals also will give the seller warrants to purchase 700,000 shares of its stock at 25 cents.

Closing is set for May 15.