(NewsDirect)
Celsius Resources Ltd (ASX:CLA, AIM:CLA) executive director PeterHume tells Proactive the company has entered into a non-binding termsheet and a binding subscription agreement which would see Canadianminer Silvercorp Metals Inc (TSX:SVM, AMEX:SVM) acquire alloutstanding shares of Celsius at a fixed price of A$0.03 per share.The consideration represents a 76% premium to the 20-dayvolume-weighted average price of Celsius shares on the ASX. The totalvalue of the acquisition is estimated to be around A$56million.
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JonathanJackson
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