VANCOUVER – IMPERIAL METALS announced on September 8 that it will make an all-cash offer to acquire all of the outstanding shares of BCMETALS CORP. Imperial is offering $0.95 for each bcMetals share, representing a premium of 46% over the average closing price for the previous 20 trading days.
Although the offer looks like a “no-brainer” in terms of shareholder value, bcMetals management is urging its shareholders to take no action until it has evaluated the offer and perhaps sought alternative transactions.
Imperial operates the Mount Polley (near Williams Lake) and Huckleberry (near Houston) copper-gold mines in British Columbia (www.ImperialMetals.com).
bcMetals is preparing the Red Chris copper-gold mine near Iskut, northwest B.C. for production in 2008 (www.bcMetalsCorp.com).