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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: TheBusDriver who wrote (53084)	11/19/2007 9:58:12 AM
From: loantech	Read Replies (1) of 78411

Atna and Canyon Agree to Merge 2007-11-19 08:30 ET - News Release VANCOUVER, B.C. and GOLDEN, Colo., Nov. 19 /PRNewswire-FirstCall/ -- Atna Resources Ltd. ("Atna") and Canyon Resources Corporation ("Canyon") jointly announced today a transaction whereby Atna will acquire all of the issued and outstanding shares of common stock of Canyon for a total value of approximately C$25.3 (US$25.9) million. Atna and Canyon believe that the combination will benefit shareholders of both companies by creating a strong platform for growth with the following characteristics and synergies: -- A multi-million ounce gold company highly leveraged to gold price. -- Near term gold production from Briggs and Reward projects to complement development at Pinson. -- Upside opportunity from complementary pipeline of gold exploration and development projects. -- Focus on gold in the western U.S. -- Exceptional management team with complementary skills and experience. -- Size and financial strength to ensure continued growth -- More than C$13.7 (US$14) million cash in hand Under the proposed transaction, Canyon shareholders will receive 0.32 common shares of Atna for each share of common stock of Canyon. Based on Friday's closing price of C$1.68 for Atna, the consideration is valued at C$0.54 (US$0.55) per Canyon common share. The consideration represents a premium of 44.9% to Canyon's closing share price on November 16, 2007, or a 42.1% premium based on the 20-day volume weighted average share prices for both companies from that date.

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