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International Minerals Corp To Be Acquired By Hochschild Mining PLC

Tuesday, 1 Oct 2013 08:01pm EDT 

International Minerals Corp announced that it has entered into a binding arrangement agreement with Hochschild Mining plc. pursuant to which Hochschild will acquire IMZ, primarily for IMZ's 40% interest in the jointly-owned (Hochschild 60%) Peruvian assets: the Pallancata silver mine and the Inmaculada gold-silver development project. Hochschild will acquire all of the issued and outstanding shares of IMZ (other than those that it already owns) by way of a court-approved Plan of Arrangement under the Business Corporations Act (Yukon). Pursuant to the Arrangement Agreement, each IMZ shareholder (other than Hochschild in respect of the cash) will receive consideration comprising USD2.38 (approximately CDN$2.46) per common share in cash and one common share of a new Canadian public company for each common share of IMZ. 

Company Quote

-0.5 -0.58%
17 Apr 2015