Brief: Adventure Gold and Probe Metals agree on terms to combine

Probe Gold

07/04/2016 15:58

April 7 (Reuters) - Adventure Gold Inc  AGE.V : 
    * Says co and Probe Metals Inc have entered into a 
definitive agreement to combine their respective companies 
    * Under terms of transaction, holders of Adventure shares 
will receive 0.39 of a Probe share for each Adventure share held 
    * Under terms of transaction, holders of Adventure shares 
will receive 0.39 of a Probe share for each Adventure share held 
    * Senior management of combined company will include all 
current management of probe with David Palmer as president and 
CEO 
    * As part of transaction, Probe plans to complete a 
non-brokered private placement with Goldcorp for about $2.9 
million 
    * Probe and Adventure's board of directors have determined 
that proposed combination is in best interest of their 
respective companies 
    * Deal implies a total equity value of approximately C$22.8 
million 
 
Source text for Eikon:  ID:nMKWB3ybma  
Further company coverage:  AGE.V   PRB.V  
 
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