Post by Catdaddy on Mar 22, 2007 20:59:18 GMT -5
If this has already been posted feel free to delete it. Later,
Catdaddy
Uranium juniors Bayswater and Kilgore announce plan to merge
2007-03-20 10:03:00
VANCOUVER (CP) - Bayswater Uranium Corp. (TSXV:BAY) and Kilgore Minerals Ltd. (TSXV:KAU) have announced a plan to merge into a larger junior company with uranium exploration properties in Canada, the United States and Africa.
Under the agreement announced late Monday, the merged company is to retain Bayswater's name and management. Each common share of Bayswater and Kilgore will be exchanged for one share in the combined entity.
Before the announcement Bayswater had a stock-market value of $145 million on the TSX Venture Exchange, while Kilgore's market capitalization was $31.3 million.
Kilgore CEO Norman Burmeister, who controls about 10 per cent of the company's equity, has entered into a lockup agreement and will have a place on Bayswater's advisory board.
The combined company will have $40 million in cash and landholdings in the central mineral belt of Labrador, the Thelon Basin in the Northwest Territories and Nunavut, the Athabasca Basin of Saskatchewan and in the west African country of Niger. It also will have uranium prospects in the Powder River Basin in Wyoming and Montana, and in Nevada and California, as well as a base-metal project in Ireland and a gold site in Idaho.
"Aggressive planned exploration expenditures of approximately $20 million on Bayswater's uranium properties in Canada and Niger in 2007 should significantly advance projects towards the resource stage," the companies.
Bayswater shares were up 18 cents to $1.78 Tuesday morning, with a 52-week high and low of $2.47 and 78 cents. Kilgore advanced 20 cents to $1.69, with a one-year range between $1.59 and 66 cents.
Catdaddy
Uranium juniors Bayswater and Kilgore announce plan to merge
2007-03-20 10:03:00
VANCOUVER (CP) - Bayswater Uranium Corp. (TSXV:BAY) and Kilgore Minerals Ltd. (TSXV:KAU) have announced a plan to merge into a larger junior company with uranium exploration properties in Canada, the United States and Africa.
Under the agreement announced late Monday, the merged company is to retain Bayswater's name and management. Each common share of Bayswater and Kilgore will be exchanged for one share in the combined entity.
Before the announcement Bayswater had a stock-market value of $145 million on the TSX Venture Exchange, while Kilgore's market capitalization was $31.3 million.
Kilgore CEO Norman Burmeister, who controls about 10 per cent of the company's equity, has entered into a lockup agreement and will have a place on Bayswater's advisory board.
The combined company will have $40 million in cash and landholdings in the central mineral belt of Labrador, the Thelon Basin in the Northwest Territories and Nunavut, the Athabasca Basin of Saskatchewan and in the west African country of Niger. It also will have uranium prospects in the Powder River Basin in Wyoming and Montana, and in Nevada and California, as well as a base-metal project in Ireland and a gold site in Idaho.
"Aggressive planned exploration expenditures of approximately $20 million on Bayswater's uranium properties in Canada and Niger in 2007 should significantly advance projects towards the resource stage," the companies.
Bayswater shares were up 18 cents to $1.78 Tuesday morning, with a 52-week high and low of $2.47 and 78 cents. Kilgore advanced 20 cents to $1.69, with a one-year range between $1.59 and 66 cents.
