7.5 C
Friday, March 31, 2023

Pretium (NYSE: PVG) Announces its Acquisition by Newcrest Mining Finalizes

Pretium Resources Inc. (NYSE: PVG) confirmed that the earlier declared acquisition of the Company by Newcrest Mining Limited by way of a plan of arrangement has been successfully finalized. Earlier, Newcrest Mining Ltd, disclosed that it has decided to acquire the rest of Pretium Resources Inc in a deal that values the Canadian miner at $2.8 billion.

Pretivm has sought to stop being a reporting issuer, and the company’s stock is likely to be delisted from the Toronto Stock Exchange (TSX) on or around March 11, 2022. Pretivm shares will be delisted from the NYSE and deregistered under the United States Securities Exchange Act of 1934, as amended as of March 9, 2022, following relevant legislation.

Transaction Overview

Pretivm shareholders who chose the all-cash option will receive roughly C$10.81 in cash and 0.3357 Newcrest shares for each Pretivm share, while those who choose the all-share option will receive 0.8084 Newcrest shares every Pretivm share. The final regulatory approval needed to conclude the Transaction was received on February 25, 2022, under the Investment Canada Act, and the Transaction is scheduled to close on or about March 9, 2022, according to the fulfillment of the other normal closing conditions to the Transaction.

Pretivm has earned a reputation as an intermediate gold producer with a 100%-owned high-grade gold underground mine in northwestern British Columbia. We aim for operational excellence, and the health and safety of the staff, contractors, and surrounding communities is its priority.

More articles


Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.