| Alamos Gold, AuRico Gold merging in $1.5 billion deal | |
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NEW YORK (AP) -- Canadian gold mining companies Alamos Gold and AuRico Gold Inc. are merging in a deal valued at approximately $1.5 billion. The combined business will have assets including AuRico's Young-Davidson mine in Canada and Alamos' Mulatos mine in Sonora, Mexico. John McCluskey, president and CEO of Alamos Gold, will serve as CEO of the combined business. The board of the combined business will have 10 members, with five directors from each company. Once the deal is complete, shareholders of both companies will each own about 50 percent of the combined business, which will take the name Alamos Gold Inc. A new company, which will be called AuRico Metals Inc., will house AuRico's Kemess project. Alamos shareholders will receive one share in the combined business and $0.0001 in cash for each share they own. AuRico shareholders will receive 0.5046 shares of the combined business for each share they own. The boards of both companies unanimously approved the merger. The transaction, which is expected to close in the second quarter, still needs approval from shareholders.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : AUQ.TO |
ISIN : CA3649151089 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Aurico is a gold producing company based in Canada. Aurico produces gold, silver in Mexico, develops gold and silver in Mexico, and holds various exploration projects in Mexico. Its main assets in production are OCAMPO and LAS TORRES in Mexico, its main asset in development is EL CUBO in Mexico and its main exploration properties are LOS JARROS, LA BANDERA MEXICO, GUADALUPE Y CALVO, MEZQUITE and GUADALUPE Y CALVO in Mexico. Aurico is listed in Canada, in Germany and in United States of America. Its market capitalisation is 169.8 millions as of today (US$ 135.2 millions, € 121.6 millions). Its stock quote reached its highest recent level on October 07, 2011 at 9.97, and its lowest recent point on July 03, 2015 at 3.58. Aurico has 47 442 200 shares outstanding. |