Vancouver – With a boosted offer of $1.50 per share, Imperial Metals (III-T, IPMLF-O) now claims high bidder status in its quest to acquire bcMetals (C-V, BMTLF-O) and tops the latest competing bid from rival suitor Taseko Mines (TKO-T, TGB-X) by a dime.
The increased offer by Imperial’s wholly owned subsidiary CAT-Gold now values bcMetals at almost $58 million.
Imperial’s bid remains good until February 9th and is conditional on tender of 50% plus one of the outstanding shares.
Under a previous agreement, bcMetals’ board has supported Imperial’s offers. Imperial has offered to amend the support agreement to reflect the revised bid it states “more than matches the current Taseko offer.”
Through tender and market purchases Imperial reports holding about 22% of bcMetals’ shares on a fully diluted basis while fellow suitor Taseko states it holds about 5% of the junior.
Shares of bcMetals closed on TSX Venture trading at the $1.42-level prior to the latest offer increase that came after market closure.
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