BUZZ-Carlisle Goldfields Ltd: To be bought by Alamos Gold

Thu Oct 15, 2015 11:43am EDT
 
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** Canadian gold and silver miner Carlisle's shares up 65 pct at 61 Canadian cents; second top gainer on the TSX

** Stock rises as much as 70.3 pct to 3-1/2 year high of 63 Canadian cents

** Alamos Gold Inc down 4 pct at C$6.15; U.S.-listed shares down 4.4 pct

** Alamos, which already owns 19 pct of Carlisle, to buy out company for about $22.1 mln (C$28.5 mln)

** Excluding Alamos warrants, Carlisle shareholders to get 60 Canadian cents per share, which represents premium of 62 pct to Carlisle's Wednesday close

** Carlisle shareholders will also get 0.0942 of a warrant to purchase from Alamos common shares at C$10.00 with an expiration date 3 years from closing

** Under the agreement, Alamos will issue about 5.4 mln shares, representing about 2 pct of its outstanding common shares

** Deal to give Alamos access to Carlisle's Lynn Lake gold project in Manitoba, which has average annual production of about 145,000 ounces of gold

** Up to Wednesday's close, Carlisle's stock had fallen 85 pct this year, while Alamos's stock had fallen 23 pct on the TSX