StockMarketWire.com - Mining group SolGold said it had commenced an offer to acquire Toronto-listed Cornerstone Capital Resources in an scrip-based transaction.

Cornerstone investors were being offered 11 SoldGold shares for each of their shares, representing a premium of about 22% to Cornerstone's closing price on Monday.

SoldGold chief executive Nick Mather said the offer would create a consolidated and more attractive ownership structure for the copper-gold porphyry Alpala project in northern Ecuador.

Alpala was currently owned by Exploraciones Novomining, an Ecuadorean company co-owned by SolGold and Cornerstone with ownership interests of 85% and 15%, respectively.


At 1:15pm: [LON:SOLG] SolGold PLC share price was +0.25p at 21.25p



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