Franco-Nevada Mining (TSE), which holds a royalty interest in American Barrick Resources’ (TSE) Nevada-based Goldstrike mine, recently completed a private placement of 500,000 special warrants. Exercisable into 500,000 common shares of the company, the special warrants were issued to purchasers in Ontario and Manitoba for $20.75 each. The warrants were issued in connection with an underwriting agreement between Franco-Nevada, First Marathon Capital Corp. and Gordon Capital Corp.
Franco-Nevada says it has also filed a preliminary prospectus with the Ontario and Manitoba securities commissions for the distribution of 500,000 common shares into which the special warrants are exercisable.
Also, the company has issued rights to shareholders in connection with a shareholders’ rights plan that is scheduled to be put forward for ratification at an annual meeting June 27.
“The rights plan was adopted by the company to ensure that its shareholders will not be subject to unfair takeover tactics such as non-cash offers and creeping takeovers,” the company said.
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