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Bayswater Uranium (TSX-V: BAY) announced today that they will match a competing offer from an unnamed “foreign based corporation” for the Reno Creek project owned by Strathmore Minerals (TSX-V: STM). In order to match the competing offer, Bayswater will need to pay Strathmore $17.5 million in cash and $2.5 million in shares. In order to …
Bayswater Uranium (TSX-V: BAY) announced today that they will match a competing offer from an unnamed “foreign based corporation” for the Reno Creek project owned by Strathmore Minerals (TSX-V: STM). In order to match the competing offer, Bayswater will need to pay Strathmore $17.5 million in cash and $2.5 million in shares.
In order to complete the transaction, Bayswater is withdrawing its previously announced financing and will need to come up with a new plan to raise the cash. However, the previously announced and approved share consolidation is going ahead with a 10 to 1 ratio. This will result in the trading symbol changing to BYU.