High River Gold Mines Ltd HRIVF

Deal accepted?

[cdnbacons]

Ok, I am confused. I have been (and still am) a holder of HRG since 2008.  I thought they didn't get enough shares but just now received an alert from TD that says the deal has been accepted. Can someone explain what is going on?  Please and Thank you!!!  Joanne

 

 

Company News Alert

S&P Dow Jones Indices Announces Changes in Canadian Indices (cnw)

 

 

A Deletion from the S&P/TSX SmallCap and Global Mining Indices

TORONTO, Nov. 27, 2012/CNW/ - The shareholders of High River Gold Mines Ltd. (TSX:HRG) have accepted the cash or share exchange offer from Nord Gold NV (LSE:NORD) whereby High River Gold Mines shareholders will receive $CDN1.40 or 0.285 shares of Nord Gold for each share held. High River Gold Mines will be removed from the S&P/TSX SmallCap and Equity SmallCap and the S&P/TSX Global Mining and Global Gold Indices effective after the close of Friday, November 30, 2012.

[discern1]

All Nordgold needed was a simple majority of the minority.  Because 108M shares were tendered for this offer, they are counted as a vote in favour of the deal (100M was needed for majority). Therefore, if the rest of minority shareholders do not tender their shares, High River Gold will hold an extraordinary meeting and vote their block of shares.  Voila - deal is done.

[cdnbacons]

Thank you Discern. So I might as well choke and vomit and accept the cash then?  If there is ever a lawsuit by the minorities, would I need to be holding Nord (via HRG) to be a part of the suit? If there is nothing we can do to get a fair price and this is the end of the road for our options, I will sell. I don't want to be stuck holding Nord shares and continue dealing with

[1marketmaker]

Discern, As this is a taxable event, and Nord still will want to collect more shares, there is a question as to whether it will be best to wait for next year before selling/taking back Nord shares.  There is little doubt that the millions of shares sold to Nord who were partners in Prognoz did so because of a plan to use the resources 101 report to begin a mining plan, boosting Nord another

[tryte]

I am also curious about this. If i want to protect myself from getting stuck with Nord shares and take the $1.40, am i still able to dissent?   Personally, i dont think Nord tripling in 12 months is in any way an easy thing. Like you stated, they wont be persuing a premium listing in 2013 so i dont see any real growth any time soon. Not to mention, with the way they have treated HRG, how can

[December3]

sorry tryte - but you sound like a doomsdayer or naysayer.  I am not so sure that this over and the Fat Lady has sung.  I think Nord Gold's press release is there to demoralize you and any other shareholders that do not read the fine print ! . I suspect that it "could" be easy if ignorant fatalist fall on their swords and sell their shares willy-nilly - yeah under that

[tryte]

No argument here. I guess i am a bit of a naysayer now. What is the fine print that i am missing here?   Nord now controls majority of minority. What they are trying to avoid here is the hassle of setting up a subsequent amalgamation meeting and just get the full 90% allowing them to take the company private.    Nord is in full control. If someone disagrees and would like to explain