AUX Acquisition 3 S.A.R.L. and 2346408 Ontario Inc. – collectively, “AUX” – is an arrangement agreement with Calvista Gold (TSX:CVZ,OTCQX:CAGOF) and has agreed to acquire all of the issued and outstanding common shares and the in-the-money warrants to acquire Common Shares of Calvista.
As quoted in the press release:
The Offer Price represents a significant premium of 62% to the closing price of Calvista’s Common Shares of $0.68 on October 18, 2012, and a premium of 100% to the ten day volume weighted average trading price of $0.55 for the ten trading days preceding the announcement of the Arrangement. It is anticipated that the Arrangement will close on or before December 31, 2012.
Calvista Gold CEO Mark Haywood said:
This Arrangement is a result of a compelling proposal received by the Board of Directors. The offer recognizes the growth potential of our assets and allows holders of Calvista’s Common Shares and Warrants to realize immediate cash consideration representing a substantial portion of this future value today.