Analysts at TD Securities Inc. told Calibre’s board of directors that, according to its assessment and considering certain factors, the payment in the transaction is fair for Calibre. Similarly, Maxit Capital LP and Canaccord Genuity Corp. said the compensation Marathon shareholders are set to receive is fair from a financial point of view.
“The combined company will have three high-quality, cash-flowing gold assets, a strong balance sheet, and leadership with proven credentials in value creation,” Marathon CEO Matt Manson said. “The transaction offers the ability to fully realize the potential of Valentine without the limitations of the single asset project developer,” he added.
“Shareholders will continue to participate in the success of Valentine’s development, supplemented now with a renewed focus on exploration and discovery and the considerable upside potential of Calibre’s own proven operations and cash flow growth.”