TrentKlarenbach
Nov 4, 2:58 AM
Blue Moon Metals is selling its Norwegian subsidiary, holder of the Nussir copper mine and the NSG property, to London-listed ACG Metals for US
$220 million, paid entirely in ACG shares.
$BMM
Blue Moon ends up with about 8.85 million ACG shares, roughly 27.6% of ACG on a basic basis, locked up for six months.
It plans to pass those shares through to its own shareholders within a year.
More than 80% of ACG's holders have signed support agreements, and closing is expected November 30.
Blue Moon keeps roughly US
$125 million in cash and turns to US critical-metals projects.
What the payout is worth depends on where ACG's shares sit when they're handed out.
Full issue: https://www.commodityape.ca/p/collective-mining-s-ramp-zone-keeps-finding-bonanza-gold-and-gibson-energy-bets-big-on-the-wcs-glut
