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Evolution to acquire Battle North in $274m all-cash deal

Mar 15, 2021

Source: https://www.mining.com/battle-north-shares-jump-on-c343m-deal-with-evolution/

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Evolution makes C$343m play for Battle North

Bateman gold project. Image from Battle North Gold.

Australia-based producer Evolution Mining (ASX: EVN) is acquiring Red Lake-focused gold developer Battle North Gold (TSX: BNAU) in a C$343-million ($274m), C$2.65 a share, all-cash deal. The two companies have entered into a definitive arrangement agreement with Evolution to acquire all of the Battle North shares outstanding.

The C$343-million cash offer represents a 46% premium to Battle North’s last close and a 54% premium to the company’s 20-day weighted average price.

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Bateman gold project. Image from Battle North Gold.

The C$343-million cash offer represents a 46% premium to Battle North’s last close and a 54% premium to the company’s 20-day weighted average price.

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