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Article: Glamis Resources Ltd. Closes Previously Announced Private Company Acquisition.
- Article from:
- Marketwire Canada
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, ALBERTA, Nov 6, 2009 (Marketwire via COMTEX) -- Glamis Resources Ltd. ("Glamis") (TSX VENTURE:GLM.A) is pleased to announce that it has completed the acquisition of Connaught Energy Ltd. ("Connaught"), as detailed in its press release of October 20, 2009. Glamis acquired Connaught for consideration consisting of $60 million in cash and 83,333,333 million class A shares of Glamis ("Glamis Shares"). The cash portion of the acquisition was funded through a combination of proceeds from the recent equity issue and bank debt. Certain non-core assets of Connaught were distributed to the current shareholders of Connaught as part of the transaction. Macquarie Capital ...