Brief: BonTerra And Metanor Enter Into Definitive Agreement

BonTerra Resources

23/07/2018 12:46

July 23 (Reuters) - Metanor Resources Inc  MTO.V :
    * BONTERRA AND METANOR ENTER INTO DEFINITIVE AGREEMENT
    * BONTERRA RESOURCES - DEAL CONTEMPLATES THAT CO WILL
ACQUIRE ALL
OF ISSUED & OUTSTANDING COMMON SHARES OF METANOR FOR C$0.73 IN
EQUITY CONSIDERATION
    * BONTERRA RESOURCES - IMMEDIATELY PRIOR TO COMPLETION OF
METANOR
DEAL, CO TO SPIN OUT LARDER LAKE ASSETS AND LIABILITIES AND $7
MILLION IN CASH
    * BONTERRA RESOURCES - UPON COMPLETION OF DEAL, EXISTING
BONTERRA
AND METANOR SHAREHOLDERS TO OWN ABOUT 58% AND 42% OF COMBINED
CO, RESPECTIVELY
    * BONTERRA RESOURCES - WILL ACQUIRE ALL OF ISSUED,
OUTSTANDING
COMMON SHARES OF METANOR AT EXCHANGE RATIO OF 1.6039 OF CO'S
SHARES FOR EACH METANOR SHARE
    * BONTERRA RESOURCES INC - BOARD OF DIRECTORS OF METANOR HAS
APPROVED TRANSACTION WITH CO
    * BONTERRA RESOURCES - BOARD OF DIRECTORS OF CO APPROVED
TRANSACTION, SPIN-OUT
    * BONTERRA RESOURCES - AGREEMENT WITH METANOR INCLUDES
RECIPROCAL
BREAK FEE OF C$3.75 MILLION, PAYABLE IF TRANSACTION NOT
COMPLETED IN CERTAIN CIRCUMSTANCES

Source text for Eikon:  ID:nCNWL7v40a 
Further company coverage:  MTO.V 

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