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Anatolia Minerals and Avoca Resources Announce Merger of Equals To Create a New Leading Intermediate Global Gold Producer
Anatolia Minerals and Avoca Resources Announce Merger of Equals To Create a New Leading Intermedi...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n Sep. 8, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTORONTO and PERTH Australia, Sept. 8 /CNW/ - Anatolia Minerals Development Limited (TSX-ANO) ("Anatolia") and Avoca Resources Limited (ASX-AVO) ("Avoca") are pleased to announce that they have entered into a Merger Implementation Deed ("MID") to combine the two companies to create a new leading intermediate global gold producer. The combined company will be called Alacer Gold Corp. ("Alacer Gold"), bringing together two of the leading junior resource companies in the world. Based on the latest closing share prices of Anatolia and Avoca, Alacer Gold would have a combined market capitalization of approximately US$2 billion(1). All directors of Anatolia and Avoca are in unanimous support of the proposed merger of equals, and both boards will be recommending the proposed merger to their shareholders, in the absence of a superior proposal.\nUnder the terms of the merger, which is to be structured as a scheme of arrangement under Australian law between Avoca and its shareholders (the "Scheme"), each Avoca shareholder will receive 0.4453 Anatolia common shares for each Avoca ordinary share they hold(2) in consideration for the transfer of those Avoca shares to Anatolia (the "Merger"). Unless an Avoca shareholder otherwise elects, the Anatolia consideration shares will take the form of CHESS depositary interests ("CDIs") which Anatolia will apply to have listed on the ASX. Upon completion of the Merger, existing Anatolia and Avoca shareholders will own approximately 50% and 50% of Alacer Gold, respectively.\nThe Avoca board of directors unanimously supports the Merger and will, in the absence of a superior proposal and subject to an Independent Expert's Report concluding that the Scheme is in the best interests of Avoca shareholders, unanimously recommend that all Avoca shareholders vote in favor of the Scheme...