Atna completes acquisition of Canyon Resources

By Lisa Kerner

Charlotte, N.C., March 19 - Atna Resources Ltd. acquired all of Canyon Resources Corp.'s issued and outstanding shares of common stock, warrants and debentures, closing the merger of the two companies first announced in November.

Canyon Resources shareholders approved the deal on March 13. The company will operate as a wholly owned U.S. subsidiary of Atna, according to a company news release.

As previously reported, for each Canyon share, holders will receive 0.32 of a share of Atna common stock, with any fractional shares paid in cash.

"This merger combines the management team, resources, and financial strength needed to create an exciting junior gold producer focused on the western United States," Atna chief executive officer and chairman David Watkins said in the release.

"We believe that significant shareholder value will be created with a re-rating

of our share price as a junior gold producer once the value of this combination is recognized by the market."

New Atna president and chief operating officer Jim Hesketh said the company's priority is to restart operations at the Briggs gold mine in California with gold production expected to begin in early 2009.

Canyon is a mining company based in Golden, Colo. Atna is a Vancouver, B.C.-based mineral exploration and development company.

Atna's registered office will continue to be in Vancouver, and its operational office will be based in Golden.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.