Adventus and Luminex to merge
TSX-V-listed exploration companies Adventus Mining and Luminex Resources have announced their merger, creating a company that will lead the advancement of the El Domo-Curipamba copper and gold project towards production and consolidate a large exploration portfolio in Ecuador.
The exploration portfolio, which totals more than 135 000 ha, includes the preliminary economic assessment-stage Condor gold project.
The merger brings together the support of members of Ross Beaty’s Lumina Group, local Ecuadorian investors and strategic equity investors that include Altius Minerals and Wheaton Precious Metals.
Concurrent with the transaction, the companies announced a concurrent financing for about $17.1-million, with participation by Beaty and Wheaton.
Pursuant to the terms and conditions of the arrangement agreement, the holders of the issued and outstanding Luminex shares will receive 0.67 Adventus shares for each Luminex share held. Upon completion, the resulting issuer will continue to be listed as a Tier 1 mining issuer on the TSX-V under the same Adventus name and ticker symbol.
Adventus will be led by president and CEO Christian Kargl-Simard and its head office will continue to be in Toronto.
The transaction will be completed in January.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation