Dominion Lending Centres Clearlease Reports Mercator Minerals Ltd. (TSX:ML) has agreed to acquire Creston Moly Corp. (TSXV:CMS) in a friendly deal that values Creston at about $195 million.
VANCOUVER – (April 12, 2011) Clearlease.com Reports Mercator Minerals Ltd. (TSX:ML) has agreed to acquire Creston Moly Corp. (TSXV:CMS) in a friendly deal that values Creston at about $195 million.
The takeover announced Tuesday will create a “significant” copper and molybdenum miner with operations in the United States and Mexico, the two said in a statement.
“We see this as a significant first step towards creating a strong intermediate base metals company with an attractive growth profile,” said Mercator president and CEO Michael Surratt.
Creston shareholders will get 0.15 of a Mercator share and eight cents in cash for each of their shares, a premium of about 43 per cent based on the closing prices of each company’s stock prior to the announcement of the deal.
Mercator shares dropped sharply following the announcement, losing 32 cents or 8.7 per cent to $3.37. Creston stock jumped 11 cents or 24 per cent to 57 cents in heavy trading on the TSX Venture Exchange.
Under terms of the deal, current Creston president and CEO Bruce McLeod will head the combined company. Mercator’s Gavin Thomas will continue as non-executive chairman and Surratt will act as technical adviser on a consulting basis.
Mercator CFO Mark Distler will continue in that role.
Creston owns the El Creston development-stage molybdenum-copper project in Sonora, Mexico. The addition of El Creston will increase Mercator’s measured and indicated molybdenum resource by 85 per cent to 732 million pounds and it copper equivalent resource by 38 per cent to 7.78 billion pounds, the companies stated.
“This transaction will create a significant copper-moly company with an industry-leading growth profile and the management resources, capital markets profile and access to capital necessary to realize on the full potential of its portfolio,” McLeod said in a statement.
The deal requires approval of two-thirds of Creston shareholders at a meeting expected to take place in June. Creston’s board supports the deal and shareholders representing 11.5 per cent of the company’s outstanding stock have agreed to tender to it.
Mercator owns the Mineral Park Mine near Kingman, Ariz., as well as the El Pilar copper project in Northern Mexico.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
VANCOUVER – (April 12, 2011) Clearlease.com Reports Mercator Minerals Ltd. (TSX:ML) has agreed to acquire Creston Moly Corp. (TSXV:CMS) in a friendly deal that values Creston at about $195 million.
The takeover announced Tuesday will create a “significant” copper and molybdenum miner with operations in the United States and Mexico, the two said in a statement.
“We see this as a significant first step towards creating a strong intermediate base metals company with an attractive growth profile,” said Mercator president and CEO Michael Surratt.
Creston shareholders will get 0.15 of a Mercator share and eight cents in cash for each of their shares, a premium of about 43 per cent based on the closing prices of each company’s stock prior to the announcement of the deal.
Mercator shares dropped sharply following the announcement, losing 32 cents or 8.7 per cent to $3.37. Creston stock jumped 11 cents or 24 per cent to 57 cents in heavy trading on the TSX Venture Exchange.
Under terms of the deal, current Creston president and CEO Bruce McLeod will head the combined company. Mercator’s Gavin Thomas will continue as non-executive chairman and Surratt will act as technical adviser on a consulting basis.
Mercator CFO Mark Distler will continue in that role.
Creston owns the El Creston development-stage molybdenum-copper project in Sonora, Mexico. The addition of El Creston will increase Mercator’s measured and indicated molybdenum resource by 85 per cent to 732 million pounds and it copper equivalent resource by 38 per cent to 7.78 billion pounds, the companies stated.
“This transaction will create a significant copper-moly company with an industry-leading growth profile and the management resources, capital markets profile and access to capital necessary to realize on the full potential of its portfolio,” McLeod said in a statement.
The deal requires approval of two-thirds of Creston shareholders at a meeting expected to take place in June. Creston’s board supports the deal and shareholders representing 11.5 per cent of the company’s outstanding stock have agreed to tender to it.
Mercator owns the Mineral Park Mine near Kingman, Ariz., as well as the El Pilar copper project in Northern Mexico.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Dominion Lending Centres Clearlease Reports Mercator Minerals Ltd. (TSX:ML) has agreed to acquire Creston Moly Corp. (TSXV:CMS) in a friendly deal that values Creston at about $195 million.
VANCOUVER – (April 12, 2011) Clearlease.com Reports Mercator Minerals Ltd. (TSX:ML) has agreed to acquire Creston Moly Corp. (TSXV:CMS) in a friendly deal that values Creston at about $195 million.
The takeover announced Tuesday will create a “significant” copper and molybdenum miner with operations in the United States and Mexico, the two said in a statement.
“We see this as a significant first step towards creating a strong intermediate base metals company with an attractive growth profile,” said Mercator president and CEO Michael Surratt.
Creston shareholders will get 0.15 of a Mercator share and eight cents in cash for each of their shares, a premium of about 43 per cent based on the closing prices of each company’s stock prior to the announcement of the deal.
Mercator shares dropped sharply following the announcement, losing 32 cents or 8.7 per cent to $3.37. Creston stock jumped 11 cents or 24 per cent to 57 cents in heavy trading on the TSX Venture Exchange.
Under terms of the deal, current Creston president and CEO Bruce McLeod will head the combined company. Mercator’s Gavin Thomas will continue as non-executive chairman and Surratt will act as technical adviser on a consulting basis.
Mercator CFO Mark Distler will continue in that role.
Creston owns the El Creston development-stage molybdenum-copper project in Sonora, Mexico. The addition of El Creston will increase Mercator’s measured and indicated molybdenum resource by 85 per cent to 732 million pounds and it copper equivalent resource by 38 per cent to 7.78 billion pounds, the companies stated.
“This transaction will create a significant copper-moly company with an industry-leading growth profile and the management resources, capital markets profile and access to capital necessary to realize on the full potential of its portfolio,” McLeod said in a statement.
The deal requires approval of two-thirds of Creston shareholders at a meeting expected to take place in June. Creston’s board supports the deal and shareholders representing 11.5 per cent of the company’s outstanding stock have agreed to tender to it.
Mercator owns the Mineral Park Mine near Kingman, Ariz., as well as the El Pilar copper project in Northern Mexico.
DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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