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Coeur Mining Inc. (TSX:CDM,NYSE:CDE) announced the formation of Coeur Capital Inc., a new subsidiary that will hold its existing and future royalty and streaming interests, as well as its strategic equity investments.
Coeur Mining Inc. (TSX:CDM,NYSE:CDE) announced the formation of Coeur Capital Inc., a new subsidiary that will hold its existing and future royalty and streaming interests, as well as its strategic equity investments.
The company also announced that Coeur Capital has entered into an agreement to acquire Global Royalty Corp., a privately held company that holds precious metals royalty interests in mines operating in Mexico and Ecuador.
As quoted in the press release.
Total consideration for the transaction, which is expected to close in December 2013, will be approximately $23.8 million, consisting of $0.3 million in cash and $23.6 million in Coeur common shares, which represents a 2.1% increase in Coeur’s current outstanding shares of 100.5 million. Upon closing of the transaction, Mark Kucher, President and CEO of Global Royalty, has agreed to join Coeur Capital as Managing Director and will have primary responsibility for its daily management and growth. Mr. Kucher, who is the largest shareholder of Global Royalty, has agreed to support the transaction with Coeur.
Click here to read the full Coeur Mining Inc. (TSX:CDM,NYSE:CDE) press release.