Business
Royal Gold Completes Acquisition of Battle Mountain
Royal Gold Completes Acquisition of Battle Mountain.
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\nDENVER, Oct. 25 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL), the\nworld's leading precious metals royalty company, today announced the\ncompletion of a merger agreement with Battle Mountain Gold Exploration Corp.\n("Battle Mountain"), under which Royal Gold acquired 100% of the fully diluted\nshares of Battle Mountain. Royal Gold paid approximately $3.4 million in cash\nand issued 1.14 million shares of its common stock to the Battle Mountain\nshareholders in order to acquire the shares of Battle Mountain that the\nCompany did not already own. Subject to the settlement of certain Battle\nMountain litigation, the former shareholders of Battle Mountain may receive\nadditional shares of Royal Gold common stock or cash, in the same form as\npreviously elected.\n\n\nBattle Mountain is a precious metals royalty company with a portfolio\nconsisting of royalties on 13 properties located mainly in the Americas. Its\nprincipal assets include a 1.25% and a 2.0% net smelter return ("NSR") royalty\non gold production and a 2.0% NSR royalty on silver production from the\nDolores project in Mexico, which is under development by Minefinders\nCorporation Ltd. Battle Mountain's royalty properties contain approximately\n4.8 million ounces of gold reserves and 136 million ounces of silver reserves.\n\n\nRoyal Gold is the leading precious metals royalty company engaged in the\nacquisition and management of precious metals royalty interests. Royal Gold\nis publicly-traded on the NASDAQ Global Select Market under the symbol "RGLD,"\nand on the Toronto Stock Exchange under the symbol "RGL." The company's web\npage is located at http://www.royalgold.com.\n\n\nCautionary "Safe Harbor" Statement Under the Private Securities\nLitigation Reform Act of 1995: With the exception of historical matters, the\nmatters discussed in this press release include forward-looking statements\nthat involve risks and uncertainties that could cause actual results to differ\nmaterially from projections or estimates contained herein. Such\nforward-looking statements include statements regarding reserve estimates for\nBattle Mountain's royalty properties. The principal assets of Battle Mountain\ninclude royalty interests on a project not yet in production. Like any\nroyalty acquisition involving royalties on a non...