From Yahoo Finance · · 50s
First Au offers Javelin Minerals all-scrip takeover
First Au proposes merging gold projects with Javelin Minerals for 350,000oz resource base
In brief
First Au proposes merging gold projects with Javelin Minerals for 350,000oz resource base Javelin shareholders get 11.7647 First Au shares per share in deal Originally reported by Yahoo Finance.
All-scrip takeover deal
First Au announced an off-market all-scrip takeover of Javelin Minerals combining gold projects in Western Australia.
“This transaction brings together two complementary Western Australian gold portfolios, experienced management teams and aligned shareholder bases under a single platform.”
Resource base details
Combined entity holds 350,600oz gold across Riverina East, Gimlet, Eureka and Coogee projects.
Shareholder ratio
Javelin shareholders receive 11.7647 new First Au shares per Javelin share in the deal.
Ownership split
After completion, Javelin shareholders hold 48.7% of First Au with First Au shareholders retaining 51.3%.
Deal conditions
Transaction requires 50.1% shareholder acceptance and regulatory approval in Western Australia.
The headline
Javelin shareholders get 11.7647 First Au shares per share in deal
