19 Mar 2008securities registration● Neutral
CANYON RESOURCES CORP amended an already-effective registration statement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 Mar 2008listing compliance notice▼ BadMajor
CANYON RESOURCES CORP deregistered its securities, ending its obligation to file reports with the SEC.
19 Mar 2008listing compliance notice● NeutralMajor
CANYON RESOURCES CORP's exchange filed to remove a class of its securities from listing.
19 Mar 2008securities registration● Neutral
CANYON RESOURCES CORP amended an already-effective registration statement.
19 Mar 2008securities registration● Neutral
CANYON RESOURCES CORP amended an already-effective registration statement.
19 Mar 2008securities registration● Neutral
CANYON RESOURCES CORP amended an already-effective registration statement.
17 Mar 2008security holder rights change● Neutral
On March 17, 2008 Canyon and Computershare amended the March 2007 rights plan so it ends, and the rights expire, immediately before the Atna merger takes effect. This removes the takeover-defence plan put in place in 2007 as part of completing the merger.
13 Mar 2008business combination● NeutralMajor
On March 13, 2008 Canyon stockholders approved the Atna merger: 27,075,379 shares for, 8,828,954 against, 491,796 abstaining and 17,233,712 not voted, out of 53,629,841 eligible. Each Canyon share converts into 0.32 Atna share plus cash for fractions, and closing is expected March 18, 2008, after which Canyon stops trading on the American Stock Exchange. Hesketh becomes Atna's President and COO, Suleski its CFO, and Atna's David Watkins Chairman and CEO. This resolves the open stockholder-vote condition; the filing does not mention the TSX approval or F-4 effectiveness status.
7 Mar 2008business combination● Neutral
At the March 6, 2008 special meeting, Canyon stockholders voted to adjourn without yet approving the Atna merger, to collect more proxies. The release says 25.3 million shares had voted in favour, 94.4 percent of the vote required, with 64 percent of shares having delivered proxies. The meeting reconvenes March 13, 2008, so the vote on the merger is still open.
22 Feb 2008resource reserve update● NeutralMajor
Canyon announced results of a new feasibility study on its Reward Gold Project near Beatty, Nevada, and filed a consent from Chlumsky, Armbrust & Meyer, LLC. The filing text itself gives no study results, costs or gold figures; those are only in the press release exhibit, whose content is not shown here.
20 Feb 2008material agreement▲ GoodMajor
On February 15, 2008 Canyon agreed to an option deal under which Golden Predator Mines US Inc. takes over Canyon's interest in the Adelaide and Tuscarora gold properties in Nevada (the Newmont-optioned projects from December 2006), assuming Canyon's obligations to Newmont. Golden Predator paid about $507,000 at closing; the press release adds up to $1.05 million more over four years, a $250,000 second payment (cash or stock) before December 29, 2008, and Golden Predator taking on remaining spending commitments of $2.75 million. Canyon keeps a royalty of 0.5% to 1.5% and may get a production payment. Golden Predator can return the properties on 60 days' notice. Canyon also takes over a lease on 20 unpatented claims next to its Mt. Edna claims.
23 Jan 2008business combination● NeutralMajor
Canyon set a special stockholder meeting for March 6, 2008 at 3:00 p.m. in Golden, Colorado to vote on the Atna merger, with a January 18, 2008 record date. Atna filed its Form F-4 registration statement on January 17, 2008, and the filing refers to a proxy statement/prospectus to be mailed. The merger remains pending the vote.
21 Nov 2007business combination● Neutral
Canyon filed the transcript of its November 19, 2007 investor call about the pending Atna merger. The summary text adds no new terms; the transcript's content is not shown.
19 Nov 2007business combination● NeutralMajor
On November 16, 2007 Canyon agreed to merge with Atna Resources Ltd. (British Columbia) through a subsidiary. Each Canyon share would convert into 0.32 Atna common shares, unexercised options would be cancelled, and warrants would convert into Atna-linked warrants adjusted by the same ratio. Closing needs Canyon stockholder approval, an effective registration statement and TSX approval, and a termination fee of about $975,000 can apply. Directors and officers holding under 5% agreed to vote in favour. The deal is pending and not yet completed.
19 Nov 2007business combination● Neutral
Canyon furnished a merger presentation and profile for the planned merger with Atna Resources and said it will file a proxy statement. No new terms are in the text itself; the slides are exhibits whose content is not given.
17 Oct 2007securities registration● Neutral
CANYON RESOURCES CORP filed the final prospectus for a registered offering.
15 Oct 2007securities registration● Neutral
CANYON RESOURCES CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
3 Aug 2007securities registration● Neutral
CANYON RESOURCES CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
29 June 2007securities registration● Neutral
CANYON RESOURCES CORP amended an already-effective registration statement.
29 June 2007securities registration● Neutral
CANYON RESOURCES CORP registered a securities offering with the SEC using its shelf eligibility.
30 May 2007capital raising announcement▼ BadMajor
This amendment restates the May 25, 2007 filing: Canyon sold 8.83 million shares with 2.21 million Series A warrants ($0.64) and 6.62 million Series B warrants ($0.704, to May 25, 2011) for $4.95 million. Placement agents got $0.2 million cash plus 330,882 Series A and 992,647 Series B warrants. A resale registration statement is due by July 9, 2007 and effective by October 22, 2007, with penalties capped at 10% of purchase price. Existing shareholders are diluted.
What it means for a shareholder
8.8m new shares at about $0.0227 to raise about $200,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
25 May 2007resource reserve update● Neutral
Canyon reported closing a private placement of warrants for $4.95 million gross, with Kuhns Brothers as broker. This brief notice gives no resource or reserve information despite the filing's label; details came in the amendment days later.
23 Mar 2007security holder rights change● Neutral
The 1997 shareholder rights plan expired on March 20, 2007, and on March 23, 2007 the board adopted a new one with Computershare as rights agent, running to March 23, 2017. If anyone acquires 20% or more, other holders can buy shares at half price using a $5.00 purchase price, which makes hostile takeovers costlier. The company says it should not deter bidders willing to negotiate with the board.
14 Mar 2007securities registration● Neutral
CANYON RESOURCES CORP filed the final prospectus for a registered offering.
14 Mar 2007securities registration● Neutral
CANYON RESOURCES CORP filed the final prospectus for a registered offering.
6 Mar 2007securities registration● Neutral
CANYON RESOURCES CORP amended an already-effective registration statement.
6 Mar 2007securities registration● Neutral
CANYON RESOURCES CORP amended an already-effective registration statement.
2 Feb 2007substantial holder notice● Neutral
Arnhold and S. Bleichroeder Advisers, LLC Tax ID # reported a CANYON RESOURCES CORP shareholding of 517,900 shares (1.17% of votes) in a periodic institutional filing.
17 Jan 2007securities registration● Neutral
CANYON RESOURCES CORP filed the final prospectus for a registered offering.
4 Jan 2007asset acquisition disposition▲ GoodMajor
On December 29, 2006 Canyon signed an asset exchange with Newmont subsidiaries. Canyon acquired Newmont's 3% royalty on its Briggs mine (the filing spells it 'CR Biggs' in one place) and gave Newmont mineral rights, leases and facilities near Lincoln, Montana (the McDonald area is an inference), with Newmont assuming the related reclamation liability. Canyon keeps a 3% royalty on the rights it gave up. Canyon also gets an option on Newmont's Adelaide (Nevada) and Tuscarora (Nevada) gold projects by spending $3.0 million over five years, at least $250,000 in year one. Newmont can elect a joint venture at 51%/49%. Canyon expects a gain and asset of about $1.6 million, a preliminary figure that may change. The filing states the exchanged assets had nil book value.