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St Barbara Provides Presentation on Atlantic Gold Acquisition and Equity Raising

15 May 2019  |  10:01:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Presentation on Atlantic Gold acquisition and equity raising

St Barbara provided presentation on Atlantic gold acquisition and equity raising. It will acquire 100% of outstanding shares of Atlantic via a Canadian Plan of Arrangement. All cash consideration of C$2.90 per share and C$35m (A$37m) to acquire all outstanding options. It is seeking to retain key Atlantic executives for the transitional period and intending to retain the existing operating team who have successfully developed Moose River Consolidated. The acquisition remains subject to closing conditions including a vote by Atlantic's shareholders and Nova Scotia regulatory approvals. It is undertaking an underwritten 1for 3.1 Accelerated Non-Renounceable Entitlement Offer to raise A$490m.

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