Canada's Endeavour Mining to buy True Gold for about C$240 mln

Renegade Gold

04/03/2016 14:07

March 4 (Reuters) - Canadian miner Endeavour Mining Corp 
 EDV.TO  agreed to buy True Gold Mining Inc  TGM.V  for about 
C$240 million in stock giving it access to a low-cost gold mine 
nearing production in Burkina Faso. 
    Endeavour will pay 0.044 of its share for each True Gold 
share. The offer values True Gold at about C$0.57 per share, a 
premium of roughly 43 percent to the stock's close on Thursday. 
    The deal is expected to close in late-April, True Gold said 
in a statement.  urn:newsml:reuters.com:*:nMKWVcf1Fa 
    National Bank Financial Inc is acting as financial adviser 
to True Gold and Blake, Cassels & Graydon LLP is the legal 
counsel. Haywood Securities Inc provided a fairness opinion on 
the deal. 
 
 (Reporting by Manish Parashar in Bengaluru; Editing by Savio 
D'Souza) 
 ((manish.parashar@thomsonreuters.com; within U.S. +1 646 223 
8780; outside U.S. +91 80 9513 3048; Reuters Messaging: 
manish.parashar.thomsonreuters.com@reuters.net)) 
 
Keywords: TRUEGOLD M&A/ENDEAVOUR MINING