UPDATE: La Mancha Third Most Active on TSX, Down Slightly at Midday
La Mancha Resources Inc. (LMA.TO) is the third most actively traded stock on the TSX with more than 2.7 million shares changing hands. It has slipped 2 cents to $3.41.
La Mancha Resources announced on Friday that Weather Investments II S.a.r.l. has agreed to offer to purchase all outstanding common shares of La Mancha by way of a take-over bid at a price of $3.50 per share in cash.
Dominique Delorme, CEO, said: "While offering a significant premium to our shareholders, this transaction will enable the La Mancha team to pursue the development of its projects with its partners in Sudan, Cote d'Ivoire and Australia with the support of a strong financial partner."
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