News: TRN Coda Minerals Says Co And Torrens Mining To Merge Via Recommended Takeover Offer

Feb 9 (Reuters) - Coda Minerals Ltd (COD) :

• CODA MINERALS AND TORRENS MINING TO MERGE VIA RECOMMENDED TAKEOVER OFFER
• TO MAKE OFFER TO ACQUIRE TORRENS WITH 0.23 NEW CODA SHARES OFFERED FOR EVERY 1 TORRENS SHARE HELD
• TORRENS' BOARD OF DIRECTORS UNANIMOUSLY RECOMMEND THAT TORRENS' SHAREHOLDERS ACCEPT OFFER, IN ABSENCE OF A SUPERIOR PROPOSAL
• UNDER OFFER, TORRENS' SHAREHOLDERS WILL RECEIVE 0.23 CODA SHARES FOR EVERY 1 TORRENS SHARE HELD
• TRANSACTION IS ACCRETIVE FOR CODA
• OFFER VALUES TORRENS' SHARES AT A$0.202 PER SHARE
• OFFER VALUES TORRENS AT APPROXIMATELY A$23.2 MILLION EQUITY VALUE