Hana Mining (TSX: V.HMG, Stock Forum) late Wednesday said it has agreed to be acquired by Cupric Canyon Capital LP, this according to a company news release..
Under the terms of the agreement, shareholders of Hana will receive 82 cents in cash for each common share of Hana held, representing a premium of approximately 88% to the 20-day volume weighted average price of the Hana shares on the TSX Venture Exchange as of October 23, 2012. The total consideration of this deal is approximately $82 million.
Hana is developing the Ghanzi copper-silver project in Botswana, Africa. Cupric currently owns about 18.6% of the issued and outstanding shares of Hana.