TORONTO (miningweekly.com) – Canadian project developer Integra Gold has signed a definitive purchase agreement with fellow Canadian miner Eldorado Gold under which Eldorado would buy about 2.15% of Integra for about C$2.45-million.
Integra first announced that it was considering such an agreement on January 21.
Eldorado would buy about 7.7-million shares at a price of C$0.315 apiece.
Closing of the transaction was dependent on Integra closing a C$25-million bought deal financing, led by Cormark Securities on behalf of a syndicate of underwriters. Closing was expected to occur on February 11, pending the completion of definitive documentation and regulatory approval.
Eldorado currently held 52-million Integra shares and, after the transaction had closed, would own 15% of the then outstanding shares.