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The Canadian Press - ONLINE EDITION
Eurasian Minerals acquiring Bullion Monarch in US$45.8M takeover deal
VANCOUVER - Eurasian Minerals Inc. (TSXV:EMX) announced a deal Tuesday to acquire Bullion Monarch Mining Inc. in cash and stock deal valued at US$45.8 million.
Under the deal, Eurasian Minerals has agreed to acquire all of the outstanding common shares of Bullion Monarch, with Bullion shareholders getting 0.45 of an EMX common share and 11 cents US in cash for each Bullion share held.
The acquisition price for Bullion, which is listed on the Frankfurt exchange and also trades on the over the counter market, represents a 64 per cent premium based on 30-day, volume-weighted average prices and average exchange rates through Feb. 7.
The combined company will hold more than 145 properties on five continents, as well as a currently paying one per cent gross smelter return royalty on several of Newmont Mining Corp. (NYSE:NEM) operations and projects on the Carlin Trend in Nevada.
The transaction is subject to approval by Bullion common shareholders. However, officers, directors and certain significant shareholders representing 40 per cent of the company's stock have entered into agreements to vote for the deal, Eurasian Minerals said in a release.
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