https://www.engineeringnews.co.za

Orsa Ventures shareholders approve friendly Alamos takeover

11th September 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Shareholders of TSX-V-listed Orsa Ventures on Wednesday approved the plan of arrangement under which NYSE- and TSX-listed Alamos would acquire all the issued and outstanding Orsa common shares, in a deal valuing the company’s equity at about C$3.5-million.

The companies said in a joint statement that more than 98% of the Orsa securities voted at a special meeting were in favour of the special resolution approving the arrangement.

The deal gives Alamos access to Orsa’s precious-metals properties in the Western US, including the right to earn a 100% interest in the Quartz Mountain property, in Oregon, as well as other assets in Oregon and Nevada.

The Quartz Mountain property is located on the northern extension of the prolific Basin and Range province of Nevada and hosts an inferred resource of 2.85-million ounces of gold, grading 0.8 g/t.

Under the terms of the agreement, Orsa shareholders will get C$0.10 a share in cash for each Orsa common share held.

Orsa said its application to the Supreme Court of British Columbia to obtain the final court order approving the arrangement was scheduled for Thursday, and assuming court approval was granted, and that all other conditions were satisfied or waived, the arrangement would become effective on Friday.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 1.288s - 140pq - 2rq
Subscribe Now