TSXV:NORA.H - Post by User
Post by
blue_seaon Apr 19, 2012 11:28am
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Post# 19812357
AUQ bought out by Endeavour
AUQ bought out by Endeavour Guess Endeavour is no longer one of the parties who could buy us out in the near or medium term:
"Vancouver, Canada - April 15, 2012 - Endeavour Silver Corp. (NYSE: EXK, TSX: EDR, Frankfurt: EJD) ("Endeavour") and AuRico Gold Inc. (TSX: AUQ, NYSE: AUQ) ("AuRico Gold") are pleased to announce that they have entered into a definitive agreement whereby Endeavour will acquire 100% interests in AuRico Gold's operating El Cubo silver-gold mine in Guanajuato State, Mexico and the Guadalupe y Calvo silver-gold exploration project in Chihuahua State, Mexico, for total consideration of up to US$250 million.
On Closing, Endeavour will pay AuRico Gold US$200 million, comprised of, at Endeavour's election, up to US$100 million of the purchase price in Endeavour common shares and the balance in cash. Post-Closing, AuRico Gold will be entitled to receive up to an additional US$50 million in cash payments from Endeavour upon the occurrence of certain events during the three years following Closing. ..."