JOHANNESBURG (miningweekly.com) – Shareholders of TSX-V-listed Integra Gold have given their approval for the buyout of the company by TSX-listed Eldorado Gold.
Integra and Eldorado in May announced the about C$590-million cash-and-scrip deal.
On closing, each Integra shareholder will be entitled to receive 0.24250 of an Eldorado share plus C$0.001, or C$1.21250 in cash, or 0.18188 of an Eldorado share and C$0.30313 in cash, for every Integra share held.
Eldorado will issue 77-million shares and pay C$129-million in cash, equal to 25% of the total consideration.
The arrangement is subject to final approval by the TSX-V and the Supreme Court of British Columbia, with a hearing to be held on July 7.