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  • Emerald Resources NL (EMR) declares its takeover offer for Bullseye Mining Limited unconditional and accelerates payment terms
  • The company is acquiring the unlisted miner for $117 million, issuing one new EMR share for every 3.43 Bullseye shares
  • Once completed, Emerald will own another 1200 square kilometres of landholding and three gold projects, including the North Laverton Gold Project
  • Emerald has declared its offer free from all the conditions as of December 8, 2021, rendering the offer unconditional
  • Emerald Resources NL (EMR) is trading at $1.09 as of the market close on January 6, 2022

Emerald Resources NL (EMR) confirms that it now has a relevant interest in 52.85 per cent of the 423,654,922 shares in gold explorer and miner Bullseye Mining.

The company is acquiring the unlisted miner for $117 million, issuing one new EMR share for every 3.43 Bullseye shares.

Once completed, Emerald will own another 1200 square kilometres of landholding and three gold projects, including the North Laverton Gold Project

Emerald is holding 75,692,283 shares and 148,218,811 shares pursuant to acceptances of the offer by Bullseye shareholders.

In addition, Emerald also confirms that it now has a relevant interest in 50.25 per cent of the fully diluted issued capital of Bullseye.

Emerald has declared its offer free from all the conditions as of December 8, 2021, rendering the offer unconditional.

It also stated that Bullseye shareholders who validly accepted the offer made to them before it was declared unconditional are said to be issued with their Emerald shares by no later than January 14.

All other Bullseye shareholders who have yet to validly accept the offer made to them will be issued with their Emerald shares within 10 business days of their acceptance being processed in accordance with the terms of the offer.

Bullseye shareholders were encouraged to accept the offer, and Emerald urges all Bullseye shareholders who have not yet accepted the offer made to them to accept before the offer closes and take advantage of the accelerated payment terms to become an Emerald shareholder.

As for the offer, it is currently scheduled to close at 5:00 pm (WST) on January 14, 2022.

Emerald Resources NL (EMR) is trading at $1.09 on January 6, 2022.

EMR by the numbers
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