Hecla deal to buy Aurizon Mines receives OK under the Investment Canada Act

VANCOUVER – Aurizon Mines Ltd. (TSX:ARZ) said Tuesday that Ottawa has approved the $796-million takeover of the company by Hecla Mining.

The company said the industry minister has approved the deal following an Investment Canada Act review.

The deal is expected to close June 1.

Aurizon has eight properties in Quebec, including the Casa Berardi gold mine, as well as several development and exploration projects.

Hecla beat out of rival bid from Alamos Gold.