Steppe Gold to acquire Anacortes Mining in an all-share transaction SteppeGold
- Steppe Gold announced today it has entered into a binding letter of intent with Anacortes Mining pursuant to which Steppe Gold will acquire all of the issued and outstanding common shares of Anacortes by way of a court approved plan of arrangement under the Business Corporations Act , in an all-share transaction.
According to a company press release, shareholders of Steppe Gold and Anacortes will own 79% and 21% of the combined company, respectively, on a basic basis. Importantly, Steppe Gold noted that the new combined company will have a potential development profile of over 200,000 ounces and a resource base of over 4.5 million gold equivalent ounces.
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