High River Gold Responds to Nord Gold Press Release and Establishes Special Committee
High River Gold Mines Ltd. (HRG.TO) has issued a statement acknowledging the intention of Nord Gold NV to formally offer to acquire the common shares of the Company that Nordgold and its affiliates do not already own, including Common Shares issuable upon exercise of convertible High River securities, for a price per Common Share, at the option of the tendering shareholder, of either (a) 0.285 global depositary receipts of Nordgold or (b) $1.40 in cash.
HRG has established a special committee of independent directors (the "Special Committee") to consider the Offer, alternatives to the Offer, and engage a financial advisor to prepare the formal valuation of High River.
More than 10 million shares have changed hands in early afternoon trading.
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