Gold Standard Ventures said Wednesday that it has entered into a definitive agreement to acquire all of the issued and outstanding common shares of Battle Mountain Gold Inc. for consideration of 0.1891 of a common share of Gold Standard plus $0.08 in cash for each Battle Mountain common share held.
Battle Mountain is a company focused on acquiring, exploring and developing precious metals projects in geological districts with potential for world-class deposits. It owns and operates 100% of the Lewis gold project, situated in the prolific Battle Mountain Trend of Nevada.
The acquisition will be made by way of a plan of arrangement under the Business Corporations Act. The arrangement values Battle Mountain at CAD0.59 per share, representing a premium of approximately 47% to the closing price of Battle Mountain as at April 11, and approximately 62% to the 5 day volume weighted average price.