TORONTO (miningweekly.com) – Vancouver-based Eldorado Gold has completed its acquisition of Australia's Sino Gold Mining, the firm announced on Tuesday.
Eldorado first announced on August 25 it would offer to buy the just over 80% of Australia's Sino Gold that it did not already own.
Sino Gold investors were offered 0,55 Eldorado shares for every Sino Gold share held, in a deal that had the backing of both boards.
Sino's shares were suspended earlier this month from trading on the ASX and the Hong Kong stock exchange and will be delisted from both exchanges.
Eldorado issued about 135,83-million shares in connection with the acquisition overall.
The company has appointed former Sino executive chairperson James Askew and former non-executive director Peter Cassidy to its board.
Eldorado has also appointed Robert Gilmore as the chairperson of its board of directors, replacing Hugh Morris, who who continue as a nonexecutive director.
Eldorado produces gold from mines in China and Turkey and has development projects in Turkey and Greece.
Sino operated two gold mines in China, including the country's second-biggest, as well as development projects in the pipeline.
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