Denver-based Dakota Mining (TSE) intends to ensure that another Denver-based company, Atlas (NYSE), is legally bound to honor an agreement concerning the acquisition of shares.
The letter of intent concerns the proposed acquisition by Atlas of 3.1 million Dakota convertible preference shares. Earlier, Atlas announced it would not proceed with the purchase.
Dakota’s management and its outside legal counsel are of the opinion that Atlas has a binding obligation to acquire the shares.
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