The company has acquired all outstanding shares of Peregrine pursuant to a plan of arrangement under the Canada Business Corporations Act.
Each common share of Peregrine has been exchanged for $1.35 cash and 0.08136 shares of Stillwater common stock.
Peregrine holds a 100% interest in the Altar property, subject to a 1% NSR royalty granted to Rio Tinto and another 1% NSR royalty granted to the underlying concession owners that may be purchased by Peregrine from the underlying owners for $1m.
The company also holds under option a 100% interest in the Rio Cenicero property which surrounds the Altar property, subject to a 1% NSR royalty granted to the Instituto Provincial de Exploraciones y Explotaciones Mineras.
