BRIEF-Siren Gold Receives Proposal For All-Scrip Acquisition Of 100% Of Shares In Federation By Siren

Reuters

2024-10-28

Oct 28 (Reuters) - Siren Gold Ltd :

* SIREN RECEIVES REVISED PROPOSAL FROM FEDERATION MINING

* PROPOSAL SET OUT INDICATIVE BUT INCOMPLETE TERMS OF PROPOSED MERGER BETWEEN CO & FEDERATION (MERGECO)

* PROPOSAL FOR AN ALL-SCRIP ACQUISITION OF 100% OF SHARES IN FEDERATION BY SIREN

* UNDER PROPOSAL FEDERATION PROPOSES EXCHANGE RATIO OF 0.96 SIREN SHARES FOR EVERY FEDERATION SHARE

* FEDERATION PROPOSES PLACEMENT OF CO SHARES TO FEDERATION AT ISSUE PRICE OF A$0.20/SHARE TO RAISE A$4.5 MILLION

* SIREN BOARD RESOLVED NOT TO PROCEED WITH PROPOSAL

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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