Offering by ENTREC of $22 million of 7.00% convertible unsecured subordinated debentures at their principal amount ($1,000 per debenture), and with a maturity date of October 31, 2017. The interest is payable semi-annually in arrears.
Offering by NAT of $10 million of 10.00% convertible subordinated debentures at their principal amount ($1,000 per debenture), and with a maturity date of September 30, 2017. The interest is payable semi-annually in arrears. The debentures are partially secured with a limited recourse guarantee of a US subsidiary, namely, a guarantee which is secured by assets with an initial acquisition cost of $5.5 million, and with recourse under the guarantee limited to those assets.
Holders of common shares of Osisko are offered C$2.26 in cash and 0.146 of a Goldcorp common share for each share. The offer is conditional, inter alia, on 66 2/3% of the issued and outstanding Osisko shares (calculated on a fully-diluted basis) being tendered. No part of the consideration paid will be allocated to the SRP Rights (which will be deemed to be deposited with the related shares). Goldcorp expects to issue approximately 65M shares under the offer.
FQM (Akuba) Inc. (the "Offeror"), which is a CBCA wholly-owned subsidiary of First Quantum (which is a TSX-listed and LSE-admitted BCBCA company), is offering to each shareholder of Inmet (which is a TSX-listed CBCA company) the following consideration for each share of Inmet (conditional inter alia on at least 66 2/3% of the Inmet shares on a fully-diluted basis being deposited):
• $72 in cash;
• 3.2967 common shares of First Quantum; or
• $36 in cash and 1.6484 common shares of First Quantum.
Offer by Hecla (NYSE) for all the outstanding common shares of U.S. Silver (TSX, US OTCQX, Frankfurt) and all its outstanding warrants for a cash price of Cdn.$1.80 per share and Cdn.$0.205 per warrant, with U.S. Silver equity thereby being valued at Cdn.$112 million. Accordingly, it is recommended that U.S. Silver shareholders vote against the RX Gold arrangement. Offer price represents a 23% premium to the closing price on July 24, 2012. Conditions of offer include 66 2/3% of both the U.S.
Following the cash offer by Maple for a minimum of 70% and a maximum of 80% of the shares of TMX, 95.4% of the shares of TMX were tendered , so that the excess over 80% was returned. Under the proposed plan of arrangement, each remaining TMX share will be acquired by Maple in consideration for the issuance of one Maple share, so that the former TMX shareholders (including certain of the Maple investors who owned TMX independently of the offer) will own 27.8% of Maple.
This is a second stage transaction (to make BPO wholly-owned with the exception of non-exchanging convertible preferred shareholders) occurring pursuant to a CBCA Plan of Arrangement and on essentially the same terms as the previous February 2014 offer (so that there is an option to receive exchangeable units of a subsidiary LP of BPY) except that BPO shareholders also will have the option of having their BPO shares redeemed by BPO itself for cash or BPY units.
