"Golden Minerals (AMEX:AUMN) (TSE:AUM) and ECU Silver Mining (TSE:ECU) announced Friday their plans to merge into one business, creating a new junior silver mining company with a market cap of $600 million, primarily focused on Argentina and Mexico.
The new entity will retain the Golden Minerals name and will continue to be headquartered in Golden, Colorado.
The transaction, which has been unanimously approved by the boards of both companies, will see each sare of ECU Silver be exchanged for 0.05 Golden Minerals shares and $0.000394 in cash, representing a total cash payout of $125,000." - Proactive Investors.com, June 24, 2011.
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