- Globex (GMX) has announced that Atlantic Mining will acquire investee NSGold (NSX)
- Atlantic Mining, a subsidiary of St. Barbara Limited, will acquire NSGold for C$0.40 per share for total consideration of $7.9M in cash
- St. Barbara is an Australian company with gold mining operations in Australia, Canada and Papua New Guinea
- Globex Mining is engaged in the acquisition, development and exploration of mineral properties in North America
- NSGold is engaged in gold exploration in Nova Scotia
- Globex (GMX) is up by 3.85 per cent and is currently trading at $1.08 per share
- NSGold (NSX) is up by 56 per cent and is currently trading at $0.39 per share
Globex (GMX) has announced that Atlantic Mining will acquire investee NSGold (NSX).
Atlantic Mining, a subsidiary of St. Barbara Limited, will acquire NSGold for C$0.40 per share for total consideration of $7.9M in cash. The transaction entails an amalgamation between NSGold and the purchaser to be known as Amalco.
NSGold entered into a binding agreement with 13611647 Canada Limited, a newly-incorporated subsidiary of Atlantic Mining NS.
NSGold’s Mooseland Gold Mine holds an NI 43-101 inferred resource of 3,454,000 tonnes averaging 4.71 g/t gold.
Globex currently owns 1,745,408 NSGold shares. If shareholders approve the transaction, it will realize a gain of $698,163.20.
St. Barbara is an Australian company with gold mining operations in Australia, Canada and Papua New Guinea.
Globex Mining is engaged in the acquisition, development and exploration of mineral properties in North America.
NSGold is engaged in gold exploration in Nova Scotia.
Globex (GMX) is up by 3.85 per cent and is currently trading at $1.08 per share as of 1:35 pm EST.
NSGold (NSX) is up by 56 per cent and is currently trading at $0.39 per share as of 12:26 pm EST.
