Brief: Karora Resources Announces Agreement To Acquire Lakewood Gold Mill
24/05/2022 23:59
May 24 (Reuters) - Karora Resources Inc KRR.TO :
* ANNOUNCES AGREEMENT TO ACQUIRE THE LAKEWOOD GOLD MILL AND
SIGNIFICANTLY DE-RISK GROWTH PLAN
* ACQUISITION PRICE OF A$80 MILLION IS COMPRISED OF A$70
MILLION
IN CASH AND A$10 MILLION IN KARORA SHARES
* KARORA HAS PAID A A$500,000 DEPOSIT TO SELLER TO BE
DEDUCTED
FROM CASH PORTION OF PURCHASE PRICE DUE AT CLOSING
* A$10 MILLION IN CO SHARE CONSIDERATION WILL BE SATISFIED
BY
ISSUANCE OF SHARES BASED ON 20-DAY VOLUME WEIGHTED AVERAGE SHARE
PRICE ON TSX
Source text for Eikon: ID:nCNWRfkn4a
Further company coverage: KRR.TO
((Reuters.Briefs@thomsonreuters.com;))
Recent news on Karora Resources
See all newsBrief: Karora Resources Says Proxy Advisory Firm ISS Recommends Karora Resources Shareholders Approve The Proposed Arrangement With Westgold Resources
Brief: Karora Resources Files Management Information Circular In Connection With Proposed Arrangement
Brief: Karora Extends Fletcher Gold Zone To 800 Metres Of Strike Including Drilling Results Of 17.3 G/T Over 14.5 Metres And Clusters Of Fine Visible Gold Mineralization
Canada Research Roundup: BCE, Franco-Nevada, Thomson Reuters
Deals of the day-Mergers and acquisitions