US EditionFresnillo to Acquire Probe Gold for C$780 Million - Probe Gold (OTC:PROBF)
The all-cash acquisition offers Probe Gold shareholders a 39% premium and aims to expand Fresnillo's precious metals portfolio beyond Mexico.
- On October 31, 2025, Fresnillo plc agreed to acquire Probe Gold Inc. for approximately C$780 million, offering C$3.65 per Share in cash, a 39% premium.
- Building on its track record and operating eight mines in Mexico, Fresnillo plc aims to expand beyond Mexico with a market cap of US$22 billion and US$1.8 billion cash as of June 30, 2025.
- The deal will be implemented via a statutory plan of arrangement under the Business Corporations Act , requiring court approval and at least two-thirds shareholder support, with fairness opinions from Canaccord Genuity Corp. and CIBC World Markets Inc., the Special Committee's financial advisor.
- All directors and a major shareholder representing approximately 12% signed voting support agreements, the Arrangement Agreement contains customary protections and a C$31 million break fee, and Probe’s shares will be delisted from the TSX.
- The arrangement gives Probe shareholders immediate liquidity and removes certain risks, with the transaction expected to close in 2025, subject to approvals and risks in forward-looking statements.
21 Articles
21 Articles
Mexican Mining Giant Fresnillo Ventures North: Acquiring Probe Gold for $560 Million
In a bold expansion amid soaring gold prices, Mexico’s Fresnillo, the world’s top primary silver producer, announced on October 31, 2025, its acquisition of Canadian explorer Probe Gold for approximately C$780 million (US$560 million) in cash. This marks Fresnillo’s inaugural foray into Canada, diversifying beyond its Latin American stronghold into Quebec’s stable mining landscape. The […]
Fresnillo to Acquire Probe Gold for C$780 Million - Probe Gold (OTC:PROBF)
Cash consideration of C$3.65 per Share represents 39% premium to Probe's closing price The Board unanimously recommends Probe Shareholders vote in FAVOUR of the Transaction TORONTO, Oct. 31, 2025 (GLOBE NEWSWIRE) -- PROBE GOLD INC. (TSX:PRB) (OTCQB:PROBF) ("Probe" or the "Company") is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") pursuant to which Fresnillo plc (the "Purchaser" or "Fresnillo") …
Read time approx.: 2 minutes, 56 secondsThe largest primary silver producer in the world, part of the Bal Group of the Baillères business family, pointed out that the transaction means its strategic entry into Canada, in the prolific mining district of Vald’Or in Quebec, long-standing in gold mining, continuous expansion, with qualified local labor and with “existing infrastructure”. Mexican Fresnillo plc announced Friday to the stock markets th…
Industrias Peñoles reported that its subsidiary Fresnillo concluded a final sale agreement to acquire 100% of the shares issued and in circulation from Probe Gold, for a cash payment of 3.65 Canadian dollars per share. According to a statement sent to the Mexican Stock Exchange (BMV), the total value of the transaction by the Canadian company is approximately 560 million US dollars considering a totally diluted base.
Quebec Gold Miner PROBE GOLD INC. (TSX: PRB) Makes TSX Top Gainers List on $780 Million Acquisition News
October 31, 2025 (Investorideas.com Newswire) Probe Gold Inc. (TSX: PRB) surges 38.78% after announcing a C$780 million cash acquisition by Fresnillo plc, strengthening global gold mining expansion plans.
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