Brief: Siren Gold Receives Proposal For All-Scrip Acquisition Of 100% Of Shares In Federation By Siren

Siren Gold

28/10/2024 08:08

Oct 28 (Reuters) - Siren Gold Ltd  SNG.AX :
    * SIREN RECEIVES REVISED PROPOSAL FROM FEDERATION MINING
    * PROPOSAL SET OUT INDICATIVE BUT INCOMPLETE TERMS OF
PROPOSED
MERGER BETWEEN CO & FEDERATION (MERGECO)
    * PROPOSAL FOR AN ALL-SCRIP ACQUISITION OF 100% OF SHARES IN
FEDERATION BY SIREN
    * UNDER PROPOSAL FEDERATION PROPOSES EXCHANGE RATIO OF 0.96
SIREN
SHARES FOR EVERY FEDERATION SHARE
    * FEDERATION PROPOSES PLACEMENT OF CO SHARES TO FEDERATION
AT
ISSUE PRICE OF A$0.20/SHARE TO RAISE A$4.5 MILLION
    * SIREN BOARD RESOLVED NOT TO PROCEED WITH PROPOSAL


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