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Stock Market & Financial Investment News

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April 2, 2014
09:30 EDTAUYYamana Gold, Osisko Mining announce partnership
Yamana Gold and Osisko Mining announced they have entered into an agreement pursuant to which Yamana will acquire a 50% interest in Osisko's mining and exploration assets for C$441.5M in cash and 95.7M common shares of Yamana having an aggregate value of C$929.6M. Upon implementation of the Agreement, each outstanding Common share of Osisko will be exchanged for C$2.194 in cash, 0.2119 of a Yamana common share, and a new common share of Osisko. The value of the interest in the Yamana share is C$2.06, and the ascribed value of the new common share of Osisko is C$3.35, for an aggregate of cash and the implied share value equal to C$7.60 for each currently outstanding Common share of Osisko. Under the Agreement, Yamana will become an equal partner in all of Osisko's mining and exploration assets. Osisko will continue to operate the Canadian Malartic Mine and all other projects under the guidance of a joint operating committee, and will also maintain its head office in Montreal.
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