Graphite M and A Heats Up - Flinders to Acquire Big North

Coal and Related Carbon Resources / Lignite, Graphite, Graphene, & Carbon Uses

Date posted: 09/02/14

It has only been a month since Flinders Resources won a years-long race and became the first of the Canadian junior miners to produce flake graphite, but the company has not wasted any time in making its next move. Flinders and Big North Graphite announced this morning that they have entered into a binding letter agreement under which the former will acquire all the issued and outstanding common shares of the latter - ultimately, Big North will become a wholly owned subsidiary of Flinders. Under the terms of the arrangement, Big North shareholders will receive one Flinders common share per each nine Big North common shares, meaning that about 9 million Flinders shares will be issued in exchange for 81 million Big North shares.