03:38 PM EST - Brazil Resources Inc. : and Brazilian Gold Corporation are pleased to jointly announce that they have entered into an arrangement agreement, pursuant to which Brazil Resources will acquire all of the outstanding common shares of BGC by way of a plan of arrangement under the Business Corporations Act . Under the Arrangement, BGC shareholders will receive 0.172 common shares of Brazil Resources for each BGC Share. The share exchange ratio represents a premium on the BGC Shares of approximately 38.9% based on the volume weighted average price of each company's shares for the 30 preceding trading days. Total aggregate consideration under the Arrangement is approximately $13.5 million. Brazil Resources Inc.
shares V.BRI are trading down $0.10 at $0.70.
