The purchase of Battle Mountain Gold gives Gold Standard Ventures another large project in one of Nevada largest gold producing districts.On April 12, Gold Standard Ventures Corp. announced that it had entered into an agreement to purchase Battle Mountain Gold Inc.. According to the company, Gold Standard has agreed to acquire all of the issued and outstanding common shares of Battle Mountain for consideration of 0.1891 of a common share of Gold Standard plus $0.08 in cash for each Battle Mountain common share held. . .the arrangement values Battle Mountain at approximately C$0.59 per share, representing a premium of approximately 47% to the closing price of Battle Mountain.
According to the company, this acquisition:
1. Enhances Gold Standard leading position in Nevada, one of the world most prolific gold producing regions,
2. Provides Gold Standard with district scale property positions on both the Carlin Trend and Battle Mountain Trend, the most productive gold trends in Nevada, and
3. Adds additional growth potential through the Lewis gold project to Gold Standard portfolio of Nevada assets.
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