A merger agreement between Hecla Mining (NYSE) and CoCa Mines (NASDAQ) has been amended in order to establish the number of Hecla common shares to be issued in Hecla’s acquisition of CoCa. The number of Hecla shares to be issued is 3.08 million, for a value to CoCa shareholders of about US$29.7 million.
The revision in the terms of the merger agreement follows completion of an independent valuation report for CoCa’s Grouse Creek gold project in southern Idaho.
CoCa shareholders will be meeting in late June as completion of the transaction is still subject to the approval of CoCa shareholders.
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