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Aurizon Recommends Support of Hecla Mining Offer

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Aurizon Mines (NYSE: AZK) today reiterated its recommendation that shareholders REJECT the previously announced offer by Alamos Gold Inc. ("Alamos"). Aurizon also reiterated its recommendation that Aurizon shareholders support the arrangement whereby Hecla Mining Company (NYSE: HL) will acquire all of the outstanding common shares of Aurizon (the "Arrangement"). Aurizon recommends that shareholders support the Arrangement with Hecla on the basis of its:-- Superior value: the current implied Hecla transaction value of CAD$4.55 per share represents a premium to the current implied CAD$4.28 per share value of the Alamos offer based on the closing share prices of Alamos and Hecla on March 4, 2013 and assuming that all shareholders elected to receive cash or shares. -- Greater value certainty: the Hecla transaction provides a maximum cash consideration of approximately CAD$513.6 million, 68% higher than the maximum $305 million cash available under the Alamos offer. -- Rigorous Process: the Board, acting on the recommendation of its Special

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Posted-In: News Guidance Contracts Asset Sales Management M&A

 

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