TORONTO (SHfn) – Trade Winds Ventures (TSX: V.TWD, Stock Forum) shares climbed 43% to 41.5 cents on Monday after the micro cap explorer said it has entered into a definitive agreement pursuant to which Detour Gold (TSX: T.DGC, Stock Forum) will acquire all of the issued and outstanding common shares of Trade Winds, by way of a court approved plan of arrangement, for total consideration of $84 million. Under the terms of the agreement, Trade Winds shareholders will receive 0.0142 of a Detour Gold share and $0.0001 in cash for each Trade Winds share held.
As well, shares of Afexa Life Sciences (TSX: T.FXA, Stock Forum) added 15% at 86 cents as Valeant Pharmaceuticals International (TSX: T.VRX, Stock Forum) announced that it intends to raise its takeover offer for Afexa to 85 cents per common share, an increase of 20% from 71 cents originally offered under an agreement announced on August 30, 2011.
Romios Gold Resources (TSX: V.RG, Stock Forum), meanwhile, reported assay results from the initial portion of the 2011 drill program on the Trek Property in British Columbia, which included a 22.1 metre zone that assayed 1.25% copper, 22.43 grams per tonne (g/t) silver, and 0.05 g/t gold. Romios stock dropped 18% to 30.5 cents.
And, Energy Fuels (TSX: T.EFR, Stock Forum) Monday said it has reached a key settlement with two of the objectors to its water rights' application for the proposed Pinon Ridge Uranium and Vanadium Mill in Colorado. Energy Fuels shares rose 28% to 29.5 cents.
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