Golden Gate Capital to buy mineral resource company Canada Fluorspar
Canada Fluorspar Inc (TSX Venture: CFI) (OTC: CNDFF) has agreed to be bought by U.S. private equity firm Golden Gate Capital at a price of $0.35 per share, payable in cash. One source has valued the deal at $38.8 million. Canada Fluorspar also said that Golden Gate will provide it with $2 million in convertible financing in advance for on-going operations. The company's board of directors have recommended the acquisition to shareholders, who will consider it at a special meeting in May. Based in St. John's, Newfoundland, Canada Fluorspar develops industrial mineral projects with a current focus on a large fluorspar project in the Atlantic region.
3 April 2014•7 mins read
