Gold Standard Ventures Announces Acquisition of Battle Mountain Gold

Gold Standard Ventures Corp. (“Gold Standard”) (TSXV:GSV)(NYSE MKT:GSV) and Battle Mountain Gold Inc. (TSX VENTURE:BMG) (“Battle Mountain”) are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which Gold Standard has agreed to acquire all of the issued and outstanding common shares of Battle Mountain (other than those already owned by Gold Standard) for consideration of 0.1891 of a common share of Gold Standard plus $0.08 in cash for each Battle Mountain common share held, by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”). The proposed Arrangement values Battle Mountain at approximately C$0.59 per share, representing a premium of approximately 47% to the closing price of Battle Mountain as at April 11, 2017 and approximately 62% to the 5 day volume weighted average price (“VWAP”).
As quoted in the press release:

Jonathan Awde, President & CEO of Gold Standard, stated: “We believe this transaction creates excellent value for the shareholders of both Gold Standard and Battle Mountain. We see an opportunity to increase our upside by adding a high quality under explored asset where we have proven expertise. Our success at Gold Standard has been built around acquiring strategically-located assets, and now we aim to replicate that success at the Lewis gold project. The Lewis gold project, which is 100% owned and controlled by Battle Mountain, is an outstanding advanced exploration project within Nevada’s Battle Mountain Trend, which has produced more than 25 million ounces of gold. The Lewis gold project is adjacent to one of Newmont’s largest and most profitable gold mines. We believe our exploration team has the ability to unlock significant value in the Lewis gold project which could potentially host a continuation of Newmont’s Phoenix deposit.”

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Source: www.marketwired.com