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Title : IDM Mining (IDM.v) and Ascot Resources (AOT.v)
link : IDM Mining (IDM.v) and Ascot Resources (AOT.v)

IDM Mining (IDM.v) and Ascot Resources (AOT.v)

There are an awful lot of losers on this chart, even if you play it generous and assume that the 8.6c all-share deal from AOT that dilutes the company by 16.7% doesn't drag its own price lower as soon as it comes out of halt:

NR here.

VANCOUVER, Jan. 7, 2019 /CNW/ - IDM Mining Ltd. (TSX-V:IDM) (OTCQB: IDMMF)("IDM" or the "Company") and Ascot Resources Ltd. (TSX.V:AOT, OTCQX:AOTVF) ("Ascot") are pleased to announce that they have entered into a definitive arrangement agreement (the "Definitive Agreement") pursuant to which Ascot will acquire all of the issued and outstanding common shares of IDM (the "Transaction"). Each IDM shareholder will be entitled to receive 0.0675 of a common share of Ascot for each share of IDM held (the "Consideration"). The Transaction will consolidate Ascot's Premier Gold project ("Premier") and IDM's Red Mountain project ("Red Mountain"), to create the leading high-grade gold development and exploration company in northwestern British Columbia's Golden Triangle. The combined entity will benefit from numerous operational and development synergies.

The Consideration values IDM at approximately C$0.086 per share, representing a premium of approximately 54% to IDM shareholders based on the trailing 20-day volume weighted average price of each company as of the close of trading on January 4, 2019.  Upon completion of the Transaction, it is expected that IDM shareholders will hold approximately 16.7% of Ascot shares on an outstanding basis.

Continues here.

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