Shareholders in dual-listed Dalradian Resources have voted in favour of a takeover by private equity firm Orion Mine Finance, paving the way for the transaction to close by the end of this week.
Shareholders will receive C$1.47 a share for their interest in Dalradian, which is developing a high-grade gold project in Northern Ireland.
Dalradian has said that it will seek a final order of the Ontario Superior Court of Justice to approve the proposed transaction at a hearing scheduled for Tuesday. Subject to obtaining approval, the transaction is expected to close on Friday, following which the company’s shares will be delisted from the TSX and Aim markets.