Junior Miner Being Acquired At A Premium Send Shares Skyward

2024-08-12 07:00:04

(MENAFN- Yolo Wire) Stock markets are moving this morning on Acquisition news, and this latest has shares on a tear. %OsiskoMining Inc. (TSX: $OSK) announced in a press release today that it has entered into a definitive arrangement agreement. The agreement states that pursuant to which Gold Fields Limited, through a 100% owned Canadian subsidiary, has agreed to acquire all of the issued and outstanding common shares of Osisko at a price of C$4.90 per share in an all-cash transaction valued at approximately a fully diluted basis.

The consideration represents an approximate 55% premium to the 20‐day volume-weighted average trading price per share on the Toronto Stock Exchange for the period ending August 9, 2024, the last trading day before the announcement of the transaction.

Gold Fields' Chief Executive Officer, Mike Fraser, stated: "We are pleased to consolidate the remaining 50% interest of the advanced-stage Windfall Project and its highly prospective exploration camp.”

Shares of Osisko were ripping higher, trading at $4.795 in late morning trade.

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