Duluth Metals and Franconia Minerals Enter into Arrangement Agreement

Duluth Metals Limited (TSX:DM) and Franconia Minerals Corporation (TSX:FRA) report that they have entered into an arrangement agreement.

The press release is quoted as saying:

Franconia shareholders will have the option to receive cash (on the basis of C$0.90 per Franconia share), Duluth shares (on the basis of 0.328 Duluth shares per Franconia share) or any combination of cash and Duluth shares, subject to pro-ration, with an aggregate maximum cash consideration of C$37,979,189 and an aggregate maximum of 13,841,304 Duluth shares.

Click here to access the entire news release.

Click here to access Franconia Minerals’ company profile.