Klondex buying Bison Gold Resources??? WTF Nowhere listed I happened to google Klondex Mines this morning. This pops up under banner as a top news item:
Bison said its board had approved the deal, which will be carried out via a plan of arrangement.Precious metals producer (NYSE:KLDX, ) reported it is set to acquire Bison Gold Resources Inc (CVE:BGE) - a Canada focused gold exploration firm.
Bison said its board had approved the deal, which will be carried out via a plan of arrangement, and will recommend Bison shareholders vote in favour.
The consideration will be in Klondex shares, cash or a combination of both, but is based on a price of US$0.59 per Bison share, which represents a big 131% premium to the last Bison closing price on August 2 this year.
Completion of the deal is subject to various conditions, including court approval, and the agreement of not less than 66% of Bison shareholders.
Bison's focus has been on two strategically situated gold properties - the Central Manitoba (CM) and the Ogama/Rockland (OG) past producing mines in Canada.
These have now been consolidated and are called the Central Manitoba Property (CMP) and the Cryderman property.
Klondex has three producing properties - the Fire Creek Mine and the Midas Mine and mill in Nevada, USA, and the True North Gold Mine and mill in Manitoba, Canada.
It also has the Hollister mine and the Aurora mine and ore milling facility, also in Nevada, USA.