03:53 PM EST - Apollo Gold Corp. : said that it has signed a binding letter of intent with Linear Gold Corp. to complete a business combination by way of a court-approved plan of arrangement to create an emerging Canadian mid-tier gold producer. Under the agreement, Apollo has agreed to acquire all of the outstanding common shares of Linear in exchange for Apollo common shares at an agreed exchange ratio of 5.474 Apollo common shares per Linear common share, which implies a price per Linear share of $2.30. Following completion of the Merger, Apollo will be owned 52.2% by current Apollo shareholders and 47.8% by current Linear shareholders. Apollo Gold Corp.
shares T.APG are trading down $0.045 at $0.38.
