On 30 November 2021, Minto Metals share price closed at C$2.95, a 13.5% premium to the C$2.60 share1 Dec 2021 14:55
On 30 November 2021, Minto Metals share price closed at C$2.95, a 13.5% premium to the C$2.60 share price at which Minto Metals raised C$31 million prior to the reverse take-over process, previously announced. The market value of Minto Metals at the close on 30 November 2021 was C$213.85 million (£126.1 million at exchange rate of 1.696).
At the market close in Toronto yesterday, the 11.2% Pembridge holding in Minto Metals was valued at £14.1 million. which is equal to £0.159 per undiluted Pembridge share based on the Company's issued share capital of 88,965,516 shares or 122,220,856 on a fully diluted basis.
As a result of the part of the reverse take-over process that formed Minto Metals, the Shareholder's Agreement between Pembridge and the other owners of Minto Explorations Ltd. has been terminated and Pembridge and Minto Metals have executed the Future Expenditures Agreement ("FEA").