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Canadian gold miner Kirkland Lake to buy St Andrew Goldfields

Published 2015-11-16, 06:04 p/m
© Reuters.  Canadian gold miner Kirkland Lake to buy St Andrew Goldfields
KL
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SAS
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Nov 16 (Reuters) - Kirkland Lake Gold Inc KGI.TO has
agreed to purchase fellow Canadian gold miner St Andrew
Goldfields Ltd SAS.TO to create a multi-asset, Ontario-focused
mid-sized gold producer, the two companies said on Monday.
Under the all-share deal, St Andrew shareholders will
receive 0.09 of a Kirkland share for each share of St Andrew
stock they own - a ratio the companies said was a 25 percent
premium to St Andrew's closing share price on Monday.
The ratio implies a total equity value of around C$178
million ($133.54 million).
($1 = 1.3329 Canadian dollars)

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