Chaparral Gold agrees to $73.4 mln buyout by Waterton-backed Goldrock

U.S. precious metals producer Chaparral Gold Corp (TSX: CHL) has agreed to be bought by Goldrock Mines Corp (TSX-V: GRM) with the backing of Canadian private equity firm Waterton Global Resource Management. The transaction, which is valued at about $73.4 million, and related arrangements will see Waterton provide financing, buy 11.1 million in Goldrock shares, and obtain certain assets, including Chaparral's Goldfield property in Nevada. Wateron will also be a strategic capital partner to Goldrock in the Converse property and other activity. The acquisition deal, which resolves earlier bids, is expected to be closed in December.

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