White Rock Minerals Ltd (ASX:WRM) White Rock to Acquire AuStar Gold
ASX:AUL) and White Rock Minerals Ltd (
OTCMKTS:WRMCF) are pleased to advise that they have entered into a binding Merger Implementation Deed (MID), pursuant to which it is proposed that White Rock will acquire 100% of the issued share capital of AUL via a scheme of arrangement between AuStar Gold and its shareholders (the Scheme).
The Scheme consideration is to be paid in the form of shares in White Rock with each AuStar Gold shareholder receiving 0.78 White Rock shares for each AuStar Gold share held. This implies a price of 43.5 cents per AuStar Gold share on issue and is based on the 1-month VWAP AuStar Gold share price of 27.8cps and the 1-month VWAP White Rock share price of 55.7cps (as at the close of trading on 2 February 2021).
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