03:52 PM EST - Canadian Gold Hunter Corp. : has entered into a definitive agreement with Suramina Resources Inc. to effect a business combination between the two companies. Pursuant to the Arrangement Agreement, Canadian Gold Hunter will acquire all of the issued and outstanding shares of Suramina on the basis of 0.7541 shares of Canadian Gold Hunter for each one Suramina share. All outstanding Suramina options will be exchanged for replacement options of Canadian Gold Hunter, the number and exercise price of which will be determined using the Exchange Ratio. The transaction values the Suramina shares at $0.1975, representing a 12.7-per-cent premium to the 20-day volume weighted average closing price of Suramina. Upon completion of the transaction, Suramina will be a wholly-owned subsidiary of Canadian Gold Hunter and it is estimated that Canadian Gold Hunter will have about 110.34 million shares outstanding. Former shareholders of Suramina will hold about 47.3% of the outstanding shares of Canadian Gold Hunter. The transaction is expected to close in mid-April 2009. Canadian Gold Hunter Corp.
shares T.CGH are trading up $0.04 at $0.29.
