Brief: Wallbridge Mining Company Limited And Balmoral Resources Ltd To Combine In An All-Stock Transaction

Wallbridge Mining

02/03/2020 12:17

March 2 (Reuters) - Wallbridge Mining Company Ltd  WM.TO :
    * WALLBRIDGE MINING COMPANY LIMITED AND BALMORAL RESOURCES
LTD. TO
COMBINE IN AN ALL-STOCK TRANSACTION
    * WALLBRIDGE MINING CO - ALL OF ISSUED, OUTSTANDING SHARES
OF
BALMORAL TO BE EXCHANGED AT RATIO OF 0.71 OF A WALLBRIDGE SHARE
FOR EACH BALMORAL SHARE
    * WALLBRIDGE MINING - EXISTING WALLBRIDGE & BALMORAL
SHAREHOLDERS
WILL OWN ABOUT 82% AND 18% OF CO'S PRO FORMA ISSUED &
OUTSTANDING SHARES, RESPECTIVELY
    * WALLBRIDGE MINING - DEAL PROVIDES FOR TERMINATION FEE OF
C$2.5
MILLION TO BE PAID BY BALMORAL TO WALLBRIDGE IF AGREEMENT IS
TERMINATED BY BALMORAL
    * WALLBRIDGE MINING - ERIC SPROTT, WHO CURRENTLY HOLDS ABOUT
9% OF
BALMORAL'S SHARES, ENTERED INTO VOTING & SUPPORT AGREEMENT

Source text for Eikon:  ID:nCNWHRY7ba 
Further company coverage:  WM.TO 

 ((Reuters.Briefs@thomsonreuters.com;))