Hochschild Mining, the precious metals company, has announced that its wholly owned subsidiary, Alberta, has satisfied the conditions of its previously announced offer to acquire all of the outstanding shares of Adina Minerals.
The shares, which represent approximately 81.49% of the outstanding stock, have been purchased for $0.80 per share in cash.
The remaining shareholders have been offered an extension to the expiry date of the offer to allow them the chance to deposit their shares.
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Hochschild said it plans to acquire all of the outstanding shares and added that it will exercise its statutory right to acquire all of the shares not permitted under the offer.
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