Friendly Acquisition of Taiga Gold Transaction Significantly Expands SSR Mining's Presence in Saskatchewan While Consolidating Ownership and Unencumbering the Fisher Properties
DENVER, CO / ACCESSWIRE / December 2, 2021 / SSR Mining Inc. (NASDAQ:SSRM)(TSX:SSRM)(ASX:SSR) ("SSR Mining" or the "Company") and Taiga Gold Corp. (CSE:TGC) ("Taiga Gold") are pleased to announce that they have entered into a definitive arrangement agreement (the "Agreement") whereby SSR Mining will acquire all of the issued and outstanding common shares of Taiga Gold pursuant to a plan of arrangement (the "Transaction") at a price of C$0.265 per Taiga Gold share (the "Offer Price"). The Transaction implies an equity value of approximately C$27 million (US$21 million) on a fully diluted in-the-money basis and has been unanimously approved by the Board of Directors of each of SSR Mining and Taiga Gold.
The Offer Price represents a premium of approximately 36% to the closing price of the Taiga Gold common shares on the Canadian Securities Exchange ("CSE") on December 1st, 2021, the day prior to the announcement of the Transaction, and a premium of 39% to the 20-day VWAP of the Taiga Gold common shares traded on the CSE prior to announcement of the Transaction.