Shares of Bayfield Ventures Corp (TSXV: BYV), engaged in the business of acquiring and exploring resource properties in Canada, recorded over 10.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session BYV gained 10.8% and closed at C$0.21, while recording significant trading volumes of 1.2 million shares. Recently, the company announced that it has entered into a definitive arrangement agreement with New Gold Inc. (TSX: NGD), wherein NGD will acquire 100% of the outstanding common shares of BYV at C$0.21 per common share, amounting the deal value to C$16.6 million. According to the terms of the agreement BYV shareholders will receive 0.0477 of a NGD common share for each BYV share held. During the past 5-trading sessions, BYV gained 51.9% with daily average trading volumes of 566,567 shares, while the stock accumulated 20.6% gain during the past one month with daily average trading volumes of 180,944 shares.
Company Description:
Bayfield Ventures Corporation (TSXV: BYV) is exploring for gold and silver in the Rainy River district of northwestern Ontario.
1-Year Stock Chart:
Source: Bloomberg
