Canada's Northern Dynasty Closes Mission Gold Acquisition.
30 December 2015 - Canadian mineral exploration and development company Northern Dynasty Minerals Ltd. (TSX: NDM) (NYSE MKT: NAK) has closed its acquisition 100% of Mission Gold Ltd. (TSX Venture: MGL), the company said.
The companies entered into a binding letter agreement on 8 October.
Mission Gold's primary assets are approximately CDN 9m in cash and a 100% interest in the Alto Parana titanium project (which will be sold to a third party on terms acceptable to Northern Dynasty prior to, and as a condition of, closing of the acquisition).
Northern Dynasty acquired 100% of Mission Gold for approximately 27.8m Northern Dynasty common shares, subject to adjustment in the event that Mission Gold's working capital is less than an agreed minimum amount.
The deal is worth around USD 11.95m.
Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern Dynasty's principal asset is the Pebble Project in southwest Alaska, USA, an initiative to develop one of the world's most important mineral resources.
Target: Mission Gold Ltd
Buyer: Northern Dynasty Minerals Ltd
Deal size in USD: 11.95m
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Companies move to definitive agreement
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|Publication:||M & A Navigator|
|Date:||Dec 30, 2015|
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