Evolution Mining (ASX:EVN) to acquire Battle North Gold

Company News

by Rachael Jones

Evolution Mining (ASX:EVN) has entered into an agreement to acquire all the issued shares in Canadian gold mine developer Battle North Gold.

Evolution has agreed to acquire all of the issued and outstanding shares of Battle North at a price of C$2.65 per common share in cash for total consideration for all issued and outstanding shares pursuant to the Transaction of approximately C$343 million.

The Consideration represents a 46 per cent premium over the closing price of the Battle North common shares on the Toronto Stock Exchange.

Shares in Evolution Mining (ASX:EVN) are trading 3.29 per cent higher at $4.08.