High River Gold shares soar as Nord Gold seeks to buy out

TORONTO — A major shareholder of High River Gold Mines Ltd. is proposing to buy the rest of its stock in a deal that values the Canadian company at more that US$1.17-billion.Nord Gold NV of Amsterdam, which already owns about 75% of High River Gold’s stock, said it would offer $1.40 per share in cash or stock for the rest.Nord Gold said selling shareholders had a choice of receiving cash or shares.High River, which has interests in producing mines and advanced exploration projects in Burkina Faso and Russia, says it has formed a committee of directors to evaluate the offer.[np-related]Nord Gold said in its press release from Amsterdam that it has lockup agreements with several minority sharholders, representing 28% of the High River shares that it doesn’t already own.High River Gold shares gained 18 cents or more than 14 per cent on Wednesday to trade at $1.41 per share on the Toronto Stock Exchange.The Canadian Press read more