BRIEF-Lowell copper, Gold Mountain, Anthem United propose to create new company

Mon Aug 15, 2016 9:40am EDT
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Aug 15 (Reuters) - Lowell Copper Ltd

* Lowell Copper, Gold Mountain Mining and Anthem United announce a proposed combination to create a new multi-asset gold and copper company

* Upon completion of transaction, Greg Smith, currently chief executive officer of Anthem, will assume that role for combined company

* Upon completion of transaction, Gold Mountain and Anthem will become wholly-owned subsidiaries of Lowell

* Lowell Copper Ltd says Lowell Copper will undertake a private placement financing of subscription receipts for gross proceeds of up to CDN$40 million

* Shareholders of Gold Mountain will receive 1.032 pre-consolidated common shares of co for each common share of Gold Mountain held

* Shareholders of Anthem will receive 0.774 of a pre-consolidated common share of Lowell Copper for each common share of Anthem held Source text for Eikon: Further company coverage: