Balmoral shareholder thumbs-up for Wallbridge merger
An “overwhelming majority” of the securityholders of TSX-listed Balmoral Resources have voted in favour of the special resolution approving the merger with fellow-listed Wallbridge Mining.
Securityholders cast votes at the special meeting of the company on May 7 in Vancouver, British Columbia.
In total 99.4% of the Balmoral securityholders who cast ballots voted to approve the merger.
Under the terms of the arrangement, Wallbridge, among other things, will acquire all the issued and outstanding shares of Balmoral, with Balmoral shareholders receiving 0.71 of a common share of Wallbridge for each issued and outstanding common share currently held.
The combination of Balmoral’s property assets, including its recent high-grade gold discoveries, with Wallbridge’s development stage Fenelon property, strong treasury and development experience, will create a “well-funded, strongly backed Canadian-focused exploration and development company”, says Balmoral president and CEO Darin Wagner.
“With the exciting growth potential of the Area 51 gold system, the near-term production potential of Fenelon and a promising portfolio of advanced to early stage, drill-ready exploration projects we believe our shareholders will be well positioned to continue to benefit from the strong global gold market.”
Court approval of the arrangement will be sought at a hearing for a final order scheduled for May 13. The application will most likely be by teleconference.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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















