Under the terms of the agreement, Algold will acquire each issued and outstanding FIU Unit, for 0.0729849 of a common share of Algold.
The proposed transaction will provide opportunity for First Uranium shareholders to hold a majority interest in Algold.
Additionally, First Uranium shareholders would receive 0.0729849 of an Algold share for each First Uranium unit held, implying an offer of about C$0.011 a unit based on the closing price of Algold’s shares.
Following completion of the transaction, Algold would gain access to FIU’s net cash and cash-equivalent assets total approximately C$3.1m ($1.24).
