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Coeur d'Alene Mines Corp Makes Proposal To Acquire Orko Silver Corp. For CAD2.70 Per Share In Cash And Stock


Wednesday, 13 Feb 2013 06:00am EST 

Coeur d'Alene Mines Corp announced that it has submitted a binding proposal (Coeur`s Proposal) to acquire all of the issued and outstanding common shares of Orko Silver Corp. (Orko) in a transaction with a total value of approximately CAD384 million. Under the terms of Coeur`s Proposal, Orko shareholders may elect to receive in exchange for each Orko share: 0.0815 common shares of Coeur (Coeur Shares) and CAD0.70 cash and 0.01118 warrants to purchase Coeur shares (Coeur Warrants); 0.1118 Coeur Shares and 0.01118 Coeur Warrants, subject to pro-ration as to the number of Coeur Shares if the total number of Coeur Shares elected by Orko shareholders exceeds approximately 11.6 million; or CAD2.60 in cash and 0.01118 Coeur Warrants, subject to pro-ration as to the amount of cash if the total cash elected by Orko shareholders exceeds CAD100 million. If all Orko shareholders were to elect either the all cash (and Coeur Warrants) or the all share (and Coeur Warrants) alternative, each Orko shareholder would receive 0.0815 Coeur Shares and CAD0.70 in cash, together with 0.01118 Coeur Warrants, for each Orko share. J.P. Morgan is serving as financial advisor to Coeur on this transaction and Fasken Martineau DuMoulin LLP and Gibson, Dunn & Crutcher LLP are serving as legal advisors. Coeur`s Proposal has been approved by the Coeur Board of Directors and no further corporate or shareholder approvals are required by Coeur to complete the transaction. 

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