March 14 (Reuters) - Paramount Gold Nevada Corp PZG.A :
* Enters into an agreement to acquire Calico Resources Corp and its advanced
stage grassy mountain project
* Deal implies value of $0.085/calico common share based on the closing prices
of company's common shares on March 11, 2016
* Paramount gold nevada -co will acquire each common share of Calico from
calico's shareholders in exchange for 0.07 of share of Paramount common stock
* Paramount stockholders to hold about 54% of pro forma entity's common stock,
and Calico shareholders to hold the remaining 46%
* Upon completion of transaction, Paramount is expected to issue approximately
7.2 million shares of common stock to Calico shareholders
* Paramount Gold Nevada -co stockholder to hold 57% of pro forma entity's
common stock on fully-diluted basis, Calico shareholders to hold remaining
43%
* Directors of Calico have unanimously voted in favor of transaction and
recommend to its shareholders to vote in favor of transaction
* To provide Calico interim debt financing secured by calico's assets including
mineral rights,leases to grassy mountain
* Source text for Eikon ID:nCCN6ttFNS
* Further company coverage PZG.A