Deutsche Rohstoff AG
Deutsche Rohstoff AG: Almonty announces acquisition of Woulfe Mining Corp
Deutsche Rohstoff AG / Key word(s): Miscellaneous Deutsche Rohstoff AG: Almonty announces acquisition of Woulfe Mining Corp Heidelberg. Almonty Industries, partially owned by Deutsche Rohstoff, announced today that it has entered into an agreement with Woulfe Mining Corp. to combine the two businesses through the acquisition of all outstanding common shares of Woulfe by Almonty. The implementation of the proposed agreement is subject to the approval of the TSX Venture Exchange, the approval of the Supreme Court of British Columbia and the favorable 66 2/3 % vote of shareholders of Woulfe at a special meeting. The latter is expected to be held on or before September 8, 2015. The management of Woulfe, as well as the independent financial and legal advisors that were consulted by Woulfe recommend to shareholders to approve the proposed agreement. The transaction is planned to close by the start of September, containing the following highlights: – Each common share of Woulfe will be exchanged for 0.1029 of a common share of Almonty. Based on Almonty’s share price on July 6, 2015, this represents total consideration of CAD 0.07 per Woulfe share and a premium of 16.7% to Woulfe’s closing price on July 6, 2015. – All outstanding options will be exchanged for Almonty options. – All Woulfe warrants and debentures will remain outstanding in accordance with their terms. – A termination fee of CAD 770,000 is to be paid to Almonty if the proposed agreement is not completed in certain specified circumstances. As part of this agreement Almonty will issue 34,828,500 shares. Deutsche Rohstoff will hold a 14.1% share in the new company (currently 23.5%). Lewis Black, President CEO of Almonty, commented: “This transaction represents the opportunity to combine one of the world’s most promising undeveloped tungsten assets with our significant portfolio of producing assets, to create a truly global tungsten powerhouse. Almonty has already established itself as a leading producer of tungsten outside of China and premier consolidator of global tungsten assets. With the addition of Woulfe’s flagship Sangdong mine, we are confident about the combined team’s ability to unlock significant value from our collective assets for our combined shareholders.” The detailed Almonty press release can be found on the company website: www.almonty.com Heidelberg, 8 July 2015 Contact: Deutsche Rohstoff AG 2015-07-08 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Deutsche Rohstoff AG | |
Friedrich-Ebert-Anlage 24 | ||
69117 Heidelberg | ||
Germany | ||
Phone: | 06221-87100-11 | |
Fax: | 06221-87100-22 | |
E-mail: | gutschlag@rohstoff.de | |
Internet: | www.rohstoff.de | |
ISIN: | DE000A0XYG76, DE000A1R07G4, | |
WKN: | A0XYG7, A1R07G | |
Indices: | Entry Standard (Performance TOP 30) | |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt | |
End of News | DGAP News-Service |
376463 2015-07-08 |