Midlands Minerals Corporation and Alder Resources Ltd. announce business combination

TORONTO, May 28, 2015 /CNW/ – Midlands Minerals Corporation (MEX: TSX-V) ( Midlands ) and Alder Resources Ltd. (ALR: TSX-V) ( Alder ) are pleased to announce that they have entered into a definitive agreement (the Agreement ), whereby Midlands will acquire all of the outstanding shares of Alder pursuant to a statutory plan of arrangement under the Business Corporations Act(Ontario) (the Arrangement ).  The Arrangement provides that Midlands will be acquiring each outstanding Alder common share in exchange for 1.81 common shares of Midlands (on a pre-consolidation basis).  Based on the 45 day volume weighted average price ( VWAP ) of Midlands common shares on the TSX Venture Exchange (the TSXV ) ending on May 26, 2015, the exchange ratio represents a premium of approximately 31.6% to the 45 day VWAP price of the Alder common shares.  The total consideration to Alder shareholders is approximately C$1.3 million, based on Alder s current issued and outstanding shares (inclusiv
http://bit.ly/1BsoOB8

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: