LONDON (Thomson Financial) - Griffin Mining Ltd. said Yukon Zinc Corp. has
notified Griffin that it intends to accept a cash offer of C$0.22 per Yukon Zinc
share from Northwest Non Ferrous International Investment Co. Ltd. and
Jinduicheng Molybdenum Group Ltd.
Griffin said this increased offer for Yukon Zinc is subject to a five-day
stand still period allowing Griffin to amend or increase its previous offer to
Yukon Zinc.
However, Griffin also said it has notified Yukon Zinc that it does not
intend to increase its offer for Yukon Zinc.
On April 22, Griffin said it will offer one Griffin share for every nine
Yukon Zinc shares held by shareholders.
On Monday, Griffin said Yukon Zinc has agreed to pay a break fee of C$2.5
million to Griffin and reimburse its expenses incurred, upon accepting the
competing offer.
TFN.newsdesk@thomsonreuters.com
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