Gold Line Approves Barsele Minerals Merger, Closing Expected February 23
Gold Line Resources (TSXV: GLDL) has seen its investors approve a previously announced merger with Barsele Minerals (TSXV: BME) that was proposed back in December.
Shareholders representing 42.21% of Gold Line voted their shares at the meeting, approving the merger with 99.98% of the votes cast.
With shareholder approval granted, the acquisition is set to close on February 23, subject to court approvals.
READ: Barsele Minerals To Acquire Gold Line Resources
Under the terms of the arrangement, Gold Line shareholders are to receive 0.7382 of a common share of Barsele for each Gold Line share held. Once combined it will result in the creation of a Scandinavian gold explorer, with its portfolio lead by the Barsele gold project in Sweden and bolstered by Gold Line’s exploration stage projects which are found in Sweden and Finland.
Gold Line’s CEO Taj Singh is expected to head the resulting company in the role of CEO, while Toby Pierce, chair of Gold Line, will become the chair of Barsele.
Gold Line Resources last traded at $0.08 on the TSX Venture.
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