PERTH: St Barbara Ltd confirmed that it has finalised all outstanding conditions relating to its previously announced acquisition of Moose River Resources Incorporated (MRR”) with completion achieved on 4 September 2020.
The acquisition was first announced on 27 July 2020. St Barbara’s wholly owned subsidiary Atlantic Mining NS (Atlantic Mining) acquired the remaining 93% of issued capital in MRRI that it did not already own, under a court approved Canadian Plan of Arrangement. The net consideration paid (after working capital adjustments) of A$61 million (C$59 million) was funded from St Barbara’s existing cash reserves.
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