Pacific Road's Mega Precious Metals to be bought by Yamana Gold

Mega Precious Metals Inc (TSX-V: MGP), a portfolio company of Australian private equity firm Pacific Road Capital, has agreed to be acquired by Yamana Gold Inc (TSX:YRI). The total consideration to investors in Mega Precious Metals is about $17.5 million. The acquisition, which is expected to close in June, will also see Yamana purchase the outstanding convertible debentures held by Pacific Road. Based in Thunder Bay, Ontario, Mega Precious Metals is an exploration company with mining projects in Manitoba, Northwestern Ontario and Nunavut. It is also backed by Pinetree Capital.

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