BUZZ-SSR Mining shares fall after securing a $464 million Roxmore deal

October 13 - ** Precious metals miner SSR Mining (SSRM.TO) shares fell 7.6%, trading at C$46.78

** The company said it has agreed to acquire Roxmore Resources (RM.TO) for an equity value of approximately $464 million, a valuation that excludes the value of the new spinoff, Roxmore Spinco

** RM shares hit their highest level since 2020, currently up 30.45%, trading at C$6.94

**According to RM, under the terms of the agreement, RM shareholders will receive C$6.75 in cash per Roxmore common share (a premium of approximately 26.9% over the previous trading day's closing price) and 0.33 shares of Roxmore Spinco

** The transaction is expected to be completed in the fourth quarter

** After the transaction, SSR will acquire Roxmore's Converse gold project, while its remaining exploration assets will be spun off into Roxmore Spinco. Existing Roxmore shareholders will hold 85.01% equity and SSR will hold 14.99%

** SSRM said that the initial capital cost of the Converse project is estimated at $800 million to $900 million, with no significant capital investment required until the early 2030s

** SSRM stated that if the deal fails to close under certain circumstances, Roxmore would be required to pay a C$18 million termination fee

** SSRM has gained 55.5% year to date, while Roxmore stock has surged 414.1% (including intraday fluctuations)

(1 US dollar = 1.4209 Canadian dollars)

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