Golden Minerals to buy ECU in $309m reverse merger

Golden Minerals Co said it will buy Canada’s ECU Silver Mining in a reverse merger for about C$302.5 million ($309.1 million) in stock and cash, to form a new silver mining company focused on Mexico and Argentina.

Under the terms of the deal, ECU shareholders will get 0.05 common shares of Golden Minerals and about $0.000394 in cash for each share they hold.