Osisko Gold Royalties Ltd <OR.TO said it would purchase royalty company Virginia Mines Inc for about C$479 million ($424 million) to create a company valued at C$1.3 billion.Osisko said its all-stock offer was worth C$14.19 per Virginia Mines share, representing a 41 percent premium to the stock's close on Friday.Under the deal, each Virginia share will be exchanged for 0.92 Osisko shares.The combined company would be owned 61 percent by Osisko, the companies said in a statement on Monday.
Gold Royalties Corporation (Gold Royalties), formerly Richmond Row Capital Corp. Shares of GRO fell by 7.69% or $-0.01/share to $0.12. In the past year, the shares have traded as low as $0.08 and as high as $0.50. On average, 19061 shares of GRO.V exchange hands on a given day and today's volume is recorded at 20000.
Virginia Mines Inc. is engaged in the business of acquiring and exploring mining properties. Shares of VGQ fell by 0.3% or $-0.03/share to $10.07. In the past year, the shares have traded as low as $9.25 and as high as $14.45. On average, 23618 shares of VGQ.TO exchange hands on a given day and today's volume is recorded at 15568.
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