The companies have entered into a bid implementation agreement under which Tangiers would take over all issued ordinary shares in Jacka at a price of A$0.11 (US$0.09) per share.
The offer price is a 56% premium on Jacka’s last closing price of A$0.072 per share.
Together, the companies hold a strong portfolio of highly prospective exploration, appraisal and development assets in Africa.
Two
