who are all the looky loos today as soon as i star
Post# of 168
Posted On: 08/05/2015 8:27:40 AM
who are all the looky loos today as soon as i start posting? nobody else would ever post here
p.21 of Hecla's last 10q
Note 13. Proposed Merger with Revett
On March 26, 2015, we and Revett Mining Company, In
c. (Revett) entered into a merger agreement pursuan
t to which we would
acquire all of the issued and outstanding common st
ock of Revett. Revett holds 100% ownership of two p
roperties in Northwest Montana: the
Troy Mine, which is currently on care-and-maintenan
ce, and the Rock Creek project, a significant undev
eloped silver and copper deposit. In the
proposed merger, each outstanding common share of R
evett would be exchanged for 0.1622 of a share of o
ur common stock, which have an
estimated value of $0.52 per Revett common share ba
sed on the closing price of Hecla's common stock of
$3.23 per share on March 25, 2015,
the last full day before the merger agreement was e
ntered into. The actual value of consideration tran
sferred will be based on the market price of
Hecla's common stock on the date the merger is cons
ummated. Based on the closing price of Hecla stock
of $3.01 per share on May 5, 2015,
total consideration would be $18.8 million. A 10% c
hange in the price per share of Hecla stock from it
s closing price on May 5, 2015 would
result in a $1.9 million change in the amount of co
nsideration transferred in the merger. Estimated co
nsideration is based on Revett having
38,548,989 outstanding common shares, excluding 725
,000 shares owned by our wholly-owned subsidiary wh
ich would be canceled in the
merger. All consideration given to Revett stockhold
ers will be in newly issued Hecla stock. The propos
ed merger is subject to approval by
Revett's stockholders. No assurance can be given as
to whether the merger will be approved and consumm
ated.
In April 2015, we entered into a term loan and secu
rity agreement with Revett pursuant to which we agr
eed to provide one or more
secured loans to Revett in an aggregate amount not
to exceed $1.5 million. The loans bear interest at
a rate per annum equal to LIBOR plus 5%
and will be due and payable on July 1, 2015. The lo
ans are secured by certain real estate holdings of
Revett's subsidiary, Revett Holdings, Inc.,
and the equity interests in Revett Holdings, Inc.
p.21 of Hecla's last 10q
Note 13. Proposed Merger with Revett
On March 26, 2015, we and Revett Mining Company, In
c. (Revett) entered into a merger agreement pursuan
t to which we would
acquire all of the issued and outstanding common st
ock of Revett. Revett holds 100% ownership of two p
roperties in Northwest Montana: the
Troy Mine, which is currently on care-and-maintenan
ce, and the Rock Creek project, a significant undev
eloped silver and copper deposit. In the
proposed merger, each outstanding common share of R
evett would be exchanged for 0.1622 of a share of o
ur common stock, which have an
estimated value of $0.52 per Revett common share ba
sed on the closing price of Hecla's common stock of
$3.23 per share on March 25, 2015,
the last full day before the merger agreement was e
ntered into. The actual value of consideration tran
sferred will be based on the market price of
Hecla's common stock on the date the merger is cons
ummated. Based on the closing price of Hecla stock
of $3.01 per share on May 5, 2015,
total consideration would be $18.8 million. A 10% c
hange in the price per share of Hecla stock from it
s closing price on May 5, 2015 would
result in a $1.9 million change in the amount of co
nsideration transferred in the merger. Estimated co
nsideration is based on Revett having
38,548,989 outstanding common shares, excluding 725
,000 shares owned by our wholly-owned subsidiary wh
ich would be canceled in the
merger. All consideration given to Revett stockhold
ers will be in newly issued Hecla stock. The propos
ed merger is subject to approval by
Revett's stockholders. No assurance can be given as
to whether the merger will be approved and consumm
ated.
In April 2015, we entered into a term loan and secu
rity agreement with Revett pursuant to which we agr
eed to provide one or more
secured loans to Revett in an aggregate amount not
to exceed $1.5 million. The loans bear interest at
a rate per annum equal to LIBOR plus 5%
and will be due and payable on July 1, 2015. The lo
ans are secured by certain real estate holdings of
Revett's subsidiary, Revett Holdings, Inc.,
and the equity interests in Revett Holdings, Inc.
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