Oban Enters Definitive Agreements with Eagle Hill, Ryan Gold, Corona and Temex

Oban Mining Corp. (TSX:OBM) announced that it’s entered into a definitive agreement with Eagle Hill Exploration Corp. (TSXV:EAG), Ryan Gold Corp. (TSXV:RYG) and Corona Gold Corp. (TSX:CRG), as well as a definitive agreement with Temex Resources Corp. (TSXV:TME). The agreements are part of Oban’s previously announced acquisition of all of those companies.

As quoted in the press release:

Pursuant to the Three Party Arrangement Agreement, Oban will acquire all of the common shares of each of Eagle Hill (‘Eagle Hill Shares’), Ryan (‘Ryan Shares’) and Corona (‘Corona Shares’) pursuant to a plan of arrangement under Section 182 of the Business Corporations Act (Ontario) (the ‘Three Party Arrangement’). Under the Three Party Arrangement: each holder of Eagle Hill Shares (each an ‘Eagle Hill Shareholder’) (other than Eagle Hill Shareholders validly exercising their dissent rights) will receive ten common shares of Oban (each an ‘Oban Share’) and five warrants entitling the holder to acquire one Oban Share (each an ‘Oban Warrant’) at $0.15 per Oban Share for a period of three years following closing, in exchange for each Eagle Hill Share held; each holder of Ryan Shares (each a ‘Ryan Shareholder’) (other than Ryan Shareholders validly exercising their dissent rights) will receive 1.880 Oban Shares in exchange for each Ryan Share held; and each holder of Corona Shares (each a ‘Corona Shareholder’) (other than Corona Shareholders validly exercising their dissent rights) will receive 7.671 Oban Shares in exchange for each Corona Share held.

Pursuant to the Temex Arrangement Agreement, Oban will acquire all of the common shares of Temex (‘Temex Shares’) pursuant to a plan of arrangement under Section 182 of the Business Corporations Act (Ontario) (the ‘Temex Arrangement’ and, together with the Three Party Arrangement, the ‘Arrangements’). Under the Temex Arrangement, each holder of Temex Shares (each a ‘Temex Shareholder’) (other than Oban and any Temex Shareholders validly exercising their dissent rights) will receive 0.780 Oban Shares in exchange for each Temex Share held.

Click here to read the full Oban Mining Corp. (TSX:OBM) press release.