UPDATE: Premier Gold Mines Up Another 3% as Moves To Buy Goldstone Resources, Which Is Up 21%
Premier Gold Mines Ltd. (PG.TO) and Goldstone Resources Inc. (GRC.TO) have entered into a definitive agreement whereby Premier will acquire, by way of a plan of arrangement, all of the outstanding common shares of Goldstone.
Premier is up another 15 cents or 3% at $5.40 today, adding to the 32 cents or 6.5% gained yesterday but off a day high $5.57 struck today. Goldstone is up 15 cents or 21% at 86 cents.
Under the arrangement, each Goldstone shareholder will receive 0.16 of a Premier share plus $0.0001 in cash for each Goldstone share held. The number of Premier shares to be issued will be approximately 16.7 million based on Goldstone's currently outstanding common shares.
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