Prime accepts Homestake offer

Shareholders of Prime Resources Group (PRU-T) have accepted Homestake Mining‘s (HM-N) offer to acquire the 49.9% of Prime it does not already own.

Homestake Chairman Jack Thompson says the transaction will allow Homestake shareholders to benefit fully from potential of the Eskay Creek gold-silver mine in British Columbia. He adds that the deal provides Prime shareholders with “the opportunity to participate in Homestake’s global growth strategy.”

Prime shareholders had the choice of receiving 0.74 of a Homestake common share, or 0.74 of a Homestake Canada exchangeable share. Those who did not exercise the option by November will receive the exchangable shares (which can be exchanged for one Homestake common share at any time).

To complete the purchase, Homestake will issue 27.8 million shares valued at US$300 million. Once the transaction is completed, Homestake will own 100% of Prime through its wholly owned subsidiary, Homestake Canada.

Print

Be the first to comment on "Prime accepts Homestake offer"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close