Tuesday April 22, 08:54 AM
Griffin Mining to buy Canada's Yukon Zinc
LONDON (ShareCast) - Shares in Griffin Mining (LSE: GFM.L - news) rose on news that it has agreed to buy Vancouver based precious metal
firm Yukon Zinc Corporation (YZC.V - news) .Under the deal it will offer one share for every nine Yukon Zinc shares held, Griffin confirmed in a company statement. The deal needs the approval of two-thirds of Yukon Zinc's shareholders. Yukon Zinc has agreed to pay a break fee of C$2.5m, it added. After the deal is completed Griffin will hold a 60% stake in Caijiaying zinc-gold-silver-lead mine in the People's Republic of China. It (Frankfurt: A0MLX5 - news) will also have 100% stake in the high grade advanced zinc-silver-copper-gold-lead Wolverine project in Yukon Canada.
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