6 Apr 2023
ATAC Resources Ltd. Announces Signing of Definitive Agreement with Hecla Mining Company
On April 26, 2023, ATAC Resources Ltd. has announced a definitive agreement with Hecla Mining Company, under which Hecla will acquire all issued and outstanding shares of ATAC. The transaction, valued at approximately C$39 million, includes a C$31 million value in Hecla shares and an approximately C$8 million value in shares of new exploration company, Cascadia Minerals Ltd. ATAC shareholders will also retain exposure to four copper and gold exploration properties in the Yukon and BC. Hecla will make a strategic investment of C$2 million into Cascadia, and post-transaction, ATAC shareholders will own 80.1% and Hecla will own 19.9% of Cascadia's issued and outstanding common shares. Agentis Capital Mining Partners acted as ATAC's financial advisor, with legal counsel provided by Stikeman Elliott LLP.