2021-12-02 07:20:46 SSRM SSR Mining
12/02/21 12/0207:20 12/02/2107:20 | SSR Mining acquires Taiga Gold for a price of C$0.265 per shareSSR Mining and Taiga Gold are pleased to announce that they have entered into a definitive arrangement agreement whereby SSR Mining will acquire all of the issued and outstanding common shares of Taiga Gold pursuant to a plan of arrangement at a price of C$0.265 per Taiga Gold share. The Transaction implies an equity value of approximately C$27M or $21M US 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 on December 1st , 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. As the only gold producer in the highly prospective province of Saskatchewan, the Transaction materially expands SSR Mining's presence in a core jurisdiction by adding five new properties, 34,569 hectares, which provide new exploration targets stretching south from the Seabee mine to SSR Mining's 100%-owned Amisk property....Rod Antal, President and CEO said, "With this transaction, we will successfully redeploy a portion of the proceeds from the recent non-core royalty portfolio sale into new growth opportunities in a core jurisdiction. The acquisition of Taiga Gold reiterates our commitment to the Seabee gold mine and ongoing investment for future resource discoveries as we aim to extend Seabee's mine life into the next decade. Additionally, the acquisition of new greenfields exploration properties across the province of Saskatchewan should allow SSR Mining to build upon our regional expertise in a region we consider exceptionally prospective geologically and underexplored." All-cash consideration of C$0.265 per Taiga Gold share represents an attractive premium of 36% to Taiga Gold's closing price on the CSE on December 1st, and a 39% premium to Taiga Gold's 20-day VWAP, solidifying value for Taiga Gold shareholders " |
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