Hochschild Mining to Acquire Amarillo Gold Corporation
November 29, 2021
Hochschild Mining PLC has agreed to acquire all outstanding shares of Amarillo Gold Corporation in a court-approved plan of arrangement. Amarillo shareholders will receive C$0.40 cash per share plus one share of a newly formed Lavras SpinCo (capitalized with C$10 million) that will hold Amarillo's Lavras do Sul project; the total transaction value is approximately C$164.5 million (excluding Lavras SpinCo assets).
- Buyers
- Hochschild Mining PLC
- Targets
- Amarillo Gold Corporation
- Sellers
- Amarillo Gold Corporation shareholders, Directors and officers of Amarillo (supporting shareholders), 2176423 Ontario Ltd. (Eric Sprott), Baccarat Trade Investments Limited
- Industry
- Energy
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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