AGInvestments
8 years ago
ARBITRAGE OPPORTUNITY ------ Catalyst Copper Ltd. (CCY.V)
Potential arbitrage opportunity with Catalyst Copper (CCY.V). On April 14th they announced a merger with Newcastle Gold (NCA) whereby shareholders of Catalyst will receive 1 common share of NCA for each share of stock owned.
CCY.V is trading around $0.50, NCA.V is trading at $0.56. Assuming the deal goes through, you stand to gain $0.07 arbitrage profit. BUY BUY BUY!!!
--------- DETAILS OF THE MERGER -------------
* Newcastle gold and catalyst copper announce definitive agreement
* Shareholders of catalyst will receive one common share of newcastle for each common share of catalyst held
* Combined company will continue to be named newcastle gold ltd
* It is a condition of arrangement that catalyst will have not less than c$3.8 million of net cash at closing
* If agreement terminates, catalyst is obligated to pay to newcastle c$1.5 million as a termination payment