Zazu Metals Acquisition
On April 27, 2017, Solitario entered into a definitive arrangement agreement pursuant to which Solitario has agreed to acquire all of the issued and outstanding common shares of Zazu Metals Corporation (TSXV:ZAZ) by way of a statutory plan of arrangement under the Canada Business Corporations Act.
Highlights of the Combined Company
- Creation of a leading zinc focused explorer and developer during a time of encouraging supply and demand fundamentals
- Significant joint venture interests in two large, high-grade zinc development projects with world-class partners:
- Solitario’s Bongará project in Northern Peru is a high-grade development asset held jointly with Compañía Minera Milpo ("Milpo"), one of the largest zinc producers in Peru
- Zazu’s Lik project represents a large-tonnage, high-grade and potentially open-pittable development project in Alaska in partnership with Teck Resources Limited ("Teck")
- Additional portfolio of high quality exploration properties and royalties in the Americas
- Well-financed, with approximately US$16.5 million in cash and cash equivalents
- Experienced management team with a track-record of creating value for shareholders by moving assets through feasibility and permitting
- Enhanced capital markets profile and trading liquidity in combination with strong shareholder support
For details on the proposed transaction, see Solitario’s press release of April 27, 2017.
Click here for the Fairness Opinion.
To view the excerpts from the presentation of the Fairness Opinion to the Board of Directors of Solitario, click here.
For additional information on Zazu and the high-grade Lik zinc deposit, please click here.
Click here to download Form 8937 "Report of Organizational Actions Affecting Basis of Securities."