Canadian gold miner Kirkland Lake to buy St Andrew Goldfields

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Kirkland Lake Gold Inc.

KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.

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Canadian gold miner Kirkland Lake to buy St Andrew Goldfields

posted on Nov 17, 2015 12:49AM

Thomson Reuters

Nov 16 (Reuters) - Kirkland Lake Gold Inc has
agreed to purchase fellow Canadian gold miner St Andrew
Goldfields Ltd 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)

(Reporting by Nicole Mordant in Vancouver)

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