written by reader Kiska Metals Acquisition

By kwoodj, March 15, 2017

Anybody else see this? Aurico is currently trading for $2.86/share. Just curious as to the thoughts of others — seems like there is an arbitrage opportunity, depending on the certainty of close.

http://www.kiskametals.com/s/News.asp?ReportID=781835

NEWS RELEASES

Mar 08, 2017
AURICO METALS INC. COMPLETES ACQUISITION OF KISKA METALS CORPORATION
Vancouver, B.C., March 8, 2017 — Kiska Metals Corporation (TSX.V: KSK) (”Kiska”) is pleased to announce the completion of the previously announced plan of arrangement (the ”Arrangement”) involving Kiska and AuRico Metals Inc. (TSX: AMI) (”AuRico”) and holders of common shares of Kiska (”Kiska Shares”) (”Shareholders”) and options of Kiska (”Kiska Options”) (”Optionholders”) (together, ”Securityholders”) pursuant to which AuRico acquired all of the issued and outstanding Kiska Shares that were not already owned by AuRico or its affiliates. Kiska is now a wholly-owned subsidiary of AuRico.

The Arrangement was approved at a special meeting of Securityholders held on March 1, 2017 by approximately 96.31% of the votes cast by Securityholders (voting as a single class) present in person or by proxy at the meeting and 96.21% of the votes cast by Shareholders (voting as a single class) present in person or by proxy at the meeting (95.91% after excluding the votes cast by those persons whose votes must be excluded in determining minority approval for the Arrangement pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions). A final order approving the Arrangement was obtained from the Supreme Court of British Columbia on March 3, 2017.

As a result, the Kiska Shares will be delisted from the TSX Venture Exchange and Kiska will apply to the relevant securities commissions for Kiska to cease to be a reporting issuer under Canadian securities laws.

The Arrangement

Under the Arrangement, AuRico acquired all of the issued and outstanding Kiska Shares (including Kiska Shares issued to Optionholders under the Arrangement, but excluding Kiska Shares held by AuRico or its Affiliates) in exchange for: (i) 0.0667 of an AuRico common share (”AuRico Share”), plus (ii) C$0.016 in cash for each Kiska Share held.

Full details of the Arrangement and certain other matters are set out in the management information circular of Kiska dated January 27, 2017 (the ”Circular”). A copy of the Circular is available under Kiska’s profile on SEDAR at http://www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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