Quadra FNX Sells Gold Wheaton Shares for C$262 Million Plus Possible Top Up

Quadra FNX Mining Ltd. (TSX:QUX) agrees to sell its 56,464,126 Common Shares of Gold Wheaton Gold Corp. (TSX:GLW) to Franco-Nevada Corporation (TSX:FNV) for aggregate gross proceeds of C$262,558,185, or $4.65 per share.

The press release is quoted as saying:

Closing is scheduled to occur on December 16, 2010. The agreement with Franco-Nevada also provides that the Company will receive: (a) any premium above the purchase price which may be paid to shareholders of Gold Wheaton in the event that Franco-Nevada completes an acquisition of Gold Wheaton in the next 12 months; and (b) 50% of any premium above the purchase price which may be received by Franco-Nevada in the event it tenders the shares to a bid by another purchaser in the next four months.

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