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Fortuna Completes Acquisition Of Chesser Resources, Strengthening Its Presence In West Africa

Sep 21, 2023•almost 2 years ago

Acquiring Company

Fortuna Silver Mines

Acquired Company

Chesser Resources

Mining TechnologyMineralPrecious MetalsMining

Description

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to confirm the completion of the previously announced acquisition of Chesser Resources Limited (ASX: CHZ) (“Chesser”) (refer to Fortuna news release dated May 8, 2023). Fortuna has acquired 100 percent of the fully paid ordinary shares of Chesser (the “Chesser Shares”) in consideration for 0.0248 of one common share of Fortuna (each whole share, a “Fortuna Share”) for each Chesser Share held. On closing, Fortuna issued 15,545,368 Fortuna Shares in exchange for the Chesser Shares, representing approximately

Company Information

Company

Fortuna Silver Mines

About

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, and Peru. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website. ON BEHALF OF THE BOARD

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed