Canada Mandalay Resources Corporation and Elgin Mining Inc. announced earlier this month that they have entered into an arrangement agreement pursuant to which Mandalay will acquire all of the outstanding common shares of Elgin for consideration consisting of CAD 0.37 (USD 0.34) cash or 0.4111 of a Mandalay common share per Elgin common share, subject to pro ration. The total transaction value is approximately CAD 70M (USD 64.2M).
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