SSR Mining to Acquire Taiga Gold Corp. in a C$27 Million Deal
Dec 2, 2021 By MarketDepth
Taiga Gold Corp. (CSE: TGC), a company with ownership in 6 projects targeting gold located within the Trans Hudson Corridor, is set to be acquired by SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM).
SSR Mining will pay C$0.265 per Taiga Gold share, representing a nearly 36% premium to the closing price of Taiga Gold Corp. (CSE: TGC) on December 1st, 2021.
Shares of Taiga Gold Corp. (CSE: TGC) gained 30.7% during the premarket hours.
“This transaction with SSR Mining fulfils the goal we set out to accomplish upon Taiga Gold’s formation in 2018. The diligence and skill of our technical team has allowed Taiga Gold to maximize the value of our portfolio of exploration properties in Saskatchewan, and we are pleased to see those efforts recognized by SSR Mining in today’s announcement.”Tim Termuende, P.Geo., President and CEO of Taiga Gold
The transaction includes 6 properties in relation to SSR Mining’s Seabee gold project, including five which are 100% Taiga-owned and one property operated under joint venture by SSR Mining (80%) and Taiga Gold (20%).
“With this transaction, we will successfully redeploy a portion of the proceeds from the recent non-core royalty portfolio sale into new growth opportunities in a core jurisdiction. The acquisition of Taiga Gold reiterates our commitment to the Seabee gold mine and ongoing investment for future resource discoveries as we aim to extend Seabee’s mine life into the next decade.”Rod Antal, President and CEO