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PYBAR's Diversified Minerals ups offer for Unity Mining by 10.3%

Unity MiningLtd. said April 4 that it has agreed to a variation of terms of theproposed acquisitionby PYBAR Group associate DiversifiedMinerals Pty. Ltd. to increase total cash payments to be receivedby Unity shareholders from 2.9 Australian cents per share to 3.2 cents pershare.

Under the revised transaction, Diversified Minerals will increasethe scheme consideration per share from 1.9 cents to 2.2 cents. The previouslyproposed capital return of 1.0 cent per share remains unchanged.

The revised transaction represents an increase of 10.3% inthe payments that Unity shareholders will receive and a 60% premium over theclosing price of Unity shares on Dec. 4, 2015, which is the last trading daybefore the announcement of the original transaction.

Unity and Diversified Minerals have also agreed to anothertransaction wherein Unity will sell its interests in the gold project in Tasmania,Australia, to Diversified for A$7.1 million if the acquisition does not proceed.

The board of Unity intends to unanimously recommendshareholders to vote in favor of Diversified's proposal in forthcoming meetings.