ASX:BVR

2 stories mentioning ASX:BVR

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FireFly Metals Shares Lower After Completing Sale of Ontario Gold Assets to Bellavista Resources

FireFly Metals (ASX:FFM) shares were down more than 5% in recent Thursday trading after the company said late Wednesday it completed the sale of its Ontario gold assets to Bellavista Resources (ASX:BVR).The assets included a 70% stake in the Pickle Crow gold project and full ownership of the Sioux Lookout project.The deal's scrip consideration is 60 million Bellavista shares and contingent consideration of 50 million Bellavista performance rights. FireFly shareholders are expected to receive one Bellavista share for every 12.8 FireFly shares held through an in-specie distribution with a record date of May 4.

ASX:BVRASX:FFM

Asia52d ago

FireFly Metals Secures Approvals to Divest Canada Project to Bellavista Resources

FireFly Metals (ASX:FFM) and Bellavista Resources (ASX:BVR) obtained all necessary shareholder approvals and satisfied or waived remaining conditions for the sale of FireFly's Ontario gold portfolio, including its 70% stake in the Pickle Crow Project and full ownership of the Sioux Lookout Project, according to a Friday filing with the Australian bourse.Completion of the transaction is expected on April 29, per the filing.Firefly will receive 60 million Bellavista shares upfront, along with 50 million performance rights, with an in-specie distribution to shareholders scheduled for May 11, equating to around one Bellavista share for every 12.8 Firefly shares held, the filing said.The transaction includes a waiver of the Australian Taxation Office class ruling condition, with tax treatment still pending final confirmation, the filing added.FireFly Metals and Bellavista Resources' shares each shed about 1% in recent Friday trade.

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