Hecla Mining signs definitive agreement to acquire ATAC Resources for C$31M in stock

HECLA MINING CO/DE/

Hecla to acquire all ATAC shares for 0.0166 Hecla share per ATAC share, total 3,693,516 Hecla shares valued at ~C$31M.
Hecla invests C$2M in spin-off Cascadia Minerals, acquiring 19.9% interest and ROFR on assets.
Total consideration including Cascadia shares valued at C$39M; premium of 66% (109% incl. Cascadia) based on ATAC's 20-day VWAP.
Transaction structured as plan of arrangement; Hecla subsidiary Alexco Resources Corp. to acquire ATAC.
Voting support agreements with ATAC directors, officers, and certain security holders.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HECLA MINING CO/DE/ entered into Arrangement Agreement with ATAC Resources Ltd. valued at approximately $23 million (effective 2023-04-05).

Action: entry
Agreement: merger
Counterparty: ATAC Resources Ltd.
Value: approximately $23 million
Effective: 2023-04-05

Exact text from the filing

On April 5, 2023, Hecla Mining Company (the “Company” or “Hecla”) entered into an Arrangement Agreement (the “Agreement”) with ATAC Resources Ltd. (“ATAC”).

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HECLA MINING CO/DE/ filing history →

Source: SEC EDGAR

accession 0001193125-23-094022

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