M&As this week: Hecla Mining Company, American Lithium
Hecla Mining Company and Mines Management have reached an agreement under which the former will acquire the latter.
As per the agreement, each of the 32m issued and outstanding common shares of Mines Management will be exchanged for 0.2218 of a common share of Hecla.
On completion of the transaction in the third quarter of 2016, Hecla will advance the evaluation programme of the Montanore silver and copper deposits located in Northwest Montana, US.
American Lithium and 1067323 B.C. have reached an agreement, under which the former will acquire all of the outstanding share capital of the latter in exchange for six million common shares.
The transaction will provide American Lithium the rights held by 1067323 B.C. to acquire 193 placer and 44 lode claims covering an area of 1,971ha in the Colorado Property in Fish Lake Valley, Esmeralda County, Nevada, and 28 placer claims covering an area of 907ha in the San Emidio Property in Washoe County, Nevada.