New Gold Agrees to Acquire Richfield Ventures Corp. Adds Gold Project in British Columbia
New Gold Inc. (“New Gold”) (TSX:NGD) (AMEX:NGD) and Richfield Ventures Corp. (“Richfield”) (TSX.V:RVC) today jointly announce a definitive agreement whereby New Gold will acquire, through a plan of arrangement (the “Arrangement”), all of the outstanding common shares of Richfield. Under the terms of the Arrangement, each Richfield shareholder will receive 0.9217 of a New Gold share for each Richfield share held. The offer values Richfield at $10.38 per share or approximately $550 million, representing a 31% premium to Richfield’s April 1, 2011 closing price and a 46% premium based on each company’s 20-day volume weighted average price. The transaction value, net of cash and proceeds from all in-the-money dilutive instruments, is approximately $513 million.
Al will be interviewing Randy Turner tomorrow (April 5th). Tune in to find out more.
Okay, I will try.
Best,
Big Al
There are SEVERAL other companies operating in the same area. These may very well see an upward revaluation in share price. Would be nice to see a map with claims to see who these companies are.