GlobeStar Announces Take-Up of Shares by Perilya Canada

GlobeStar Mining Corporation (TSX:GMI) that Perilya Canada Limited is to acquire all of the outstanding common shares of GlobeStar.

The press release is quoted as saying:

Perilya Canada has indicated that it intends to exercise its statutory rights under the compulsory acquisition provisions of the Canada Business Corporations Act to acquire the remaining common shares of GlobeStar that were not deposited pursuant to the Offer. Under the terms of the Offer, shareholders of GlobeStar are entitled to receive Cdn.$1.65 in cash for each common share tendered pursuant to the Offer.

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