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Augyva Mining Announces Takeover Plan for Niobium Miner

By Joel ScanlonJan 16 2011

Niocan Inc said that its board of directors had been made aware by Augyva Mining Resources of its intent to make an unsolicited offer for all its issued and outstanding common shares. The issuance was made by Augyva to the company on January 12, 2011.

In the issuance Augyva gave its plan of an amalgamation, or formal take over bid of Niocan to acquire all the shares in the company. This is the second offer that Niocan has received. The Nio-Metals Holdings LLC has also asked for a business combination with Niocan Inc.

The company has now formed a special committee of independent directors who will investigate and evaluate the offers that it is receiving from these two companies and any other offer that it may get. They do not intend to disclose developments with respect to Strategic Review till the board of directors approves a definite transaction or strategic option.

Niocan went on to clarify that there was no assurance than any proposal would be recommended by the special committee or that such a proposal would be implemented by the board of directors. They said that there was no assurance also of the fact that any transaction would occur and if one is to happen there was no terms or timings defined for it.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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Scanlon, Joel. (2019, March 19). Augyva Mining Announces Takeover Plan for Niobium Miner. AZoMining. Retrieved on April 26, 2024 from https://www.azomining.com/News.aspx?newsID=2550.
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Scanlon, Joel. "Augyva Mining Announces Takeover Plan for Niobium Miner". AZoMining. 26 April 2024. <https://www.azomining.com/News.aspx?newsID=2550>.
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