Movers and SHAKERS
Great Bear Resources (GTBAF)(GBR:CA)
Great Bear Shares Rise on Acquisition Announcement; Rating Lowered to Market Perform
Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear's Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Kinross Gold Corporation to acquire Great Bear Resources. Great Bear announced a definitive agreement to be acquired by Kinross (TSX: K, NYSE: KGC) by way of a court-approved plan of arrangement. The transaction is expected to be completed in the first quarter of 2022, subject to approval by Great Bear shareholders, receipt of court and regulatory approvals, and satisfaction of certain closing conditions. We think the transaction is a win for both companies who have a shared vision of the potential for a multi-deposit mine complex at Dixie, including a potential high-grade open pit mine and a long-life underground mine.
Terms of the transaction. Great Bear shareholders will have the option to receive either: 1) C$29.00 in cash, or 2) 3.8564 Kinross shares per Great Bear share, subject to pro-ration, up to aggregate maximums of 75% cash and 40% Kinross shares on a fully diluted basis. The agreement also provides contingent consideration for Great Bear shareholders based on certain milestones ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.