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Gold/Mining/Energy : Copper Fox
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From: louel8/8/2016 1:11:49 PM
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Alloycorp Mining Inc. (TSX-V: AVT) ("Alloycorp" or the "Company") announced today that it has entered into an agreement providing for the privatization of the Company by its major shareholders, Resource Capital Fund IV L.P. ("RCF IV") and Resource Capital Fund VI L.P. ("RCF VI" and collectively with RCF IV, "RCF"). Shareholders of Alloycorp, other than RCF, will receive $0.05 for each common share of the Company.
Mario Caron, Chairman of the Board at Alloycorp, said: "The cost of operating a public company has become prohibitive given the current state of the equity markets as well as the depressed state of the molybdenum industry as a whole. The RCF transaction relieves the Company's significant debt burden, provides cash to shareholders and enhances flexibility for future development of the Company."

Directors and officers of the Company have entered into voting and support agreements with the Purchaser under which they have agreed to vote all common shares owned or controlled by them in favour of the Amalgamation Resolution. The Purchaser intends to vote in favour of the Amalgamation Resolution. Alloycorp shareholders are entitled to dissent in respect of the Amalgamation Resolution under Division 2 of Part 8 of the BCBCA.

The remaining shareholders are a minority of the vote and have no real influence on the decision. It is what I have said on past occasions could happen to C/F and it's holdings, if two E's in the company decided to do so, using similar reasoning. Was not a great outcome for retail share holders.
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