Highlander Silver Closes Bear Creek Takeover and Streamlines Debt, Listings

An announcement from Highlander Silver ( (TSE:HSLV) ) is now available.

Highlander Silver has completed its acquisition of Bear Creek Mining through a court-approved plan of arrangement, issuing 0.1175 Highlander shares for each Bear Creek share and taking its ownership of Bear Creek to 100%. The transaction consolidates Bear Creek as a wholly owned subsidiary, while shareholders of Bear Creek must follow outlined procedures to exchange their old stock for Highlander shares.

Concurrently, Highlander Silver settled key debt obligations by paying US$6.2 million to Royal Gold and US$1.6 million to Equinox, and repaid advances and interest owed to Wheaton Precious Metals. Bear Creek’s shares will be delisted from the TSX Venture Exchange, and the company is moving to withdraw from OTCQX and the Lima Stock Exchange and cease reporting in Canada, streamlining the combined group’s capital markets presence.

The most recent analyst rating on (TSE:HSLV) stock is a Buy with a C$12.00 price target. To see the full list of analyst forecasts on Highlander Silver stock, see the TSE:HSLV Stock Forecast page.

More about Highlander Silver

Highlander Silver Corp. is a Toronto-based precious metals company focused on silver and related mineral projects, with shares listed on the TSX. Bear Creek Mining Corporation is a Peru-focused mining company whose shares have traded on the TSX Venture Exchange, OTCQX and the Lima Stock Exchange, giving both groups exposure to international resource investors.

Average Trading Volume: 642,367

Technical Sentiment Signal: Buy

Current Market Cap: C$1.26B

For a thorough assessment of HSLV stock, go to TipRanks’ Stock Analysis page.