Inter-Citic Obtains Final Order for Plan Of Arrangement; Stocks Almost Hit Year Highs
Inter-Citic Minerals Inc. (ICI.TO) announced that a final order was granted yesterday by the Ontario Superior Court of Justice approving the previously announced arrangement pursuant to which Qing Hai Mining Acquisition Corp. will acquire all of the issued and outstanding common shares of Inter-Citic for C$2.05 per share in cash.
The closing of the arrangement is currently scheduled for mid-November, 2012, subject to the parties obtaining or waiving, as applicable, the remaining conditions to the arrangement, including requisite regulatory approvals in The People's Republic of China.
ICI edged up by $0.005 to $2.015, moving closer to year high $2.03.
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