RE:RE:RE:DM is extremely fortunate to get this dealThey(Anto) were quick to lock up the WM shares........Maybe they anticipate a better offer from another player.......Not too long ago Duluth Metals had the opportunity to buy back the project for 230 million....and then Anto turns around and offers to acquire o/s shares for 96 million......
Pursuant to the terms of the Acquisition Agreement, subject to regulatory approval, Antofagasta has agreed to subscribe for 2,222,222 Duluth Shares on November 10, 2014 and 2,888,888 Duluth Shares on the date of signing of a definitive agreement relating to the Acquisition, in each case at a price of $0.45 per Duluth Share. Upon issuance of these 5,111,110 Duluth Shares, and assuming the closing of the purchase of shares from Wallbridge, there will be 141,879,095 Duluth Shares outstanding, of which Antofagasta will own 24,341,673 Duluth Shares or 17.2% on an undiluted basis.
Read more at https://www.stockhouse.com/companies/bullboard/t.dm/duluth-metals-ltd#5wpGVHzBuJWlb7lX.99