The offer will be made on the basis of one common share of La Fosse for every four common shares of Louvicourt, and will be conditional upon at least 51% of Louvicourt’s outstanding shares being tendered.
Details of the offer and its support documents were mailed to Louvicourt shareholders this week.
La Fosse is currently participating, together with Louvicourt Gold Mines and Ronrico Explorations (VSE), in the underground exploration of a past producing gold property, known as the Simkar project, near Val d’Or, Quebec.
According to La Fosse, financing of the Simkar gold project will be assisted by the company acquiring a control position in COATS- listed Louvicourt.
Shares of Louvicourt traded on COATS at a high of 40 and a low of 10 during 1988. Shares of La Fosse Platinum have traded in 47 -50 range recently on the Toronto Stock Exchange.
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