March 14 (Reuters) - Battle North Gold Corp BNAU.TO :
* BATTLE NORTH GOLD CORPORATION TO BE ACQUIRED BY EVOLUTION MINING LIMITED
* BATTLE NORTH GOLD CORP - TOTAL CONSIDERATION FOR ALL ISSUED AND OUTSTANDING SHARES FOR EVOLUTION PURSUANT TO TRANSACTION OF APPROXIMATELY C$343 MILLION
* BATTLE NORTH GOLD - EVOLUTION HAS AGREED TO ACQUIRE ALL OF ISSUED AND OUTSTANDING SHARES OF BATTLE NORTH AT PRICE OF C$2.65 PER COMMON EARNINGS PER SHARE IN CASH
* BATTLE NORTH GOLD CORP - CONSIDERATION REPRESENTS A 46% PREMIUM OVER CLOSING PRICE OF BATTLE NORTH COMMON SHARES ON TORONTO STOCK EXCHANGE ON MARCH 12
* BATTLE NORTH - AGREED NOT TO SOLICIT OR INITIATE ANY DISCUSSION REGARDING ANY OTHER BUSINESS COMBINATION, SUBJECT TO CUSTOMARY "FIDUCIARY OUT" RIGHTS
* BATTLE NORTH GOLD CORP - ALSO GRANTED EVOLUTION RIGHT TO MATCH ANY SUPERIOR PROPOSAL
* BATTLE NORTH GOLD CORP - WILL PAY TERMINATION FEE OF C$14.8 MILLION TO EVOLUTION IF DEFINITIVE AGREEMENT IS TERMINATED
* BATTLE NORTH - AGREED TO MAKE EXPENSE REIMBURSEMENT PAYMENT TO EVOLUTION OF C$2 MILLION IF DEFINITIVE AGREEMENT ITERMINATED AS RESULT OF SHAREHOLDERS NOT APPROVING DEAL
* BATTLE NORTH GOLD CORP - NO VOTE WILL BE REQUIRED BY EVOLUTION SHAREHOLDER