Gold X Mining Corp. (TSXV: GLDX) last night announced that shareholders have approved the previously announced transaction with Gran Colombia Gold (TSX: GCM). The approval will see the Colombia-based gold explorer acquired for total consideration of approximately $315 million.
The agreement sees Gran Columbia acquiring all issued and outstanding common shares of Gold X not already owned by Gran Colombia. The transaction will see Gold X shares exchanged for Gran Colombia common shares on the basis of 0.6948 of a Gran Columbia share for each Gold X share held.
The transaction sees the de-listing of the company from the TSX Venture Exchange upon final approval by the British Columbia Supreme Court, with the arrangement expected to formally be completed on June 4, 2021.
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Gold X Mining Corp last traded at C$3.55 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
