Fortuna Silver Mines Inc T.FVI

Fortuna to strengthen its presence in West Africa

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VANCOUVER, British Columbia, May 08, 2023 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce that it has entered into a definitive Scheme Implementation Deed ("Agreement") with Chesser Resources Limited (ASX: CHZ) ("Chesser"), pursuant to which Fortuna has agreed to acquire 100% of the fully-paid ordinary shares of Chesser (the "Chesser Shares") in consideration for 0.0248 of a common share of Fortuna (each whole share, a "Fortuna Share") for each Chesser Share held ("Scheme Consideration"). The Scheme Consideration represents a purchase price of approximately A$0.1421 for each Chesser Share and values the transaction at approximately A$89.0 million (CAD$80.6). The transaction as contemplated by the Agreement (the "Transaction") will be implemented by way of a scheme of arrangement pursuant to Part 5.1 of the Australian Corporations Act 2001 (Cth) ("Scheme"). Upon implementation of the Scheme, Fortuna expects to issue up to 15,545,682 Fortuna Shares to Chesser shareholders, representing approximately 5.1% of the issued and outstanding Fortuna Shares on an undiluted basis.

Fortuna to strengthen its presence in West Africa with the (globenewswire.com)

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Strenghtening its presence in West Africa while weakening its presence on the TSE

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Wow bloodbath 

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Is this a buy or sell now