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stockbullpen

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stockbullpen

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Friday, 12/18/2015 12:08:50 PM

Friday, December 18, 2015 12:08:50 PM

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http://www.e-mj.com/news/us-a-canada/5769-star-mountain-acquiring-hudbay-s-balmat-mine.html#.VnQ82bYrLUI
SMRS
Hudbay taking 550,000 shares of Star Mountain.
Star Mountain is a U.S. junior company headquartered in Tempe, Arizona. The company’s total acquisition price for Balmat is 550,000 shares of Star Mountain common stock and up to $17 million in cash, consisting of $1.0 million in cash at closing and future cash payments of up to $15.5 million. A $500,000 payment had already been made to Hudbay at the time of the announcement. Under certain conditions, Star Mountain can accelerate the acquisition payments and reduce the future cash payments to $7 million.
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