Canadian gold and silver producer McEwen Mining acquires Timberline Resources in a $19.4M deal, offering a 132% premium to Timberline shareholders.
McEwen Mining, a Canadian gold and silver producer, is acquiring Timberline Resources in a friendly deal that values Timberline at approximately $19.4M. Timberline shareholders will receive 0.01 of a share of McEwen's common stock for each Timberline share held, representing a 132% premium to the 20-day VWAP of Timberline shares. The transaction, subject to regulatory and stock exchange approvals, is expected to close in Q3 2024.
April 16, 2024
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