Business
Royal Gold Files S-4 Registration Statement to Advance Merger With Battle Mountain Gold Exploration
Royal Gold Files S-4 Registration Statement to Advance Merger With Battle Mountain Gold Exploration.
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\nDENVER, Aug. 9 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL) ("Royal\nGold"), the world's leading precious metals royalty company, today announced\nthat it has filed a registration statement on Form S-4 with the Securities and\nExchange Commission relating to the merger transaction with Battle Mountain\nGold Exploration Corp. ("Battle Mountain"). As announced in the Company's\nJuly 31, 2007 press release, Royal Gold has agreed to acquire 100% of the\nfully diluted shares of Battle Mountain. Battle Mountain shareholders may\nelect to receive either cash consideration of $0.55 per Battle Mountain share\nor from 0.0172 to 0.0179 shares of Royal Gold common stock per Battle Mountain\nshare, in each case assuming there are 91,563,506 Battle Mountain shares\noutstanding at closing.\n\n\nThe consideration payable to Battle Mountain's shareholders is subject to\na potential reduction or holdback for certain contingent liabilities.\nCompletion of the merger, which was unanimously approved by both companies'\nBoards of Directors, is subject to various closing conditions including Battle\nMountain shareholder approval.\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 3.25% net smelter return ("NSR") royalty on gold\nproduction and a 2.0% NSR royalty on silver production from the Dolores\nproject in Mexico, which is under development by Minefinders Corporation Ltd.\nMinefinders expects commercial production to begin in the early part of\ncalendar 2008. Battle Mountain has disclosed that their royalty properties\ncontain approximately 4.8 million ounces of gold reserves and 136 million\nounces of silver reserves.\n\n\nRoyal Gold is a precious metals royalty company engaging in the\nacquisition and management of precious metal royalty interests. Royal Gold is\npublicly-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 i...