Sunday, June 1, 2025

Latest

Monarch Gold Shareholders Approve Transaction With Yamana Gold

Monarch Gold (TSX: MQR) has seen its shareholders approve of the previously announced acquisition with Yamana Gold (TSX: YRI), whereby Yamana will acquire what amounts to the major assets of Monarch. The transaction, which is complex in nature, will see shareholders effectively receive $0.63 per share in total consideration, which includes 0.20 shares of a newly formed spinout, Monarch Mining Corporation, for each share held.

The transaction will effectively see Yamana acquire the Wasamac property and the Camflo property and mill from that of Monarch in an overly complicated transaction for total consideration of $200 million. The properties that Yamana is not interested in, which include the Beaufor mine, the McKenzie Breaka property, the Croinor Gold property, the Swanson property and the Beacon Gold mill and property, will be placed into a spinout along with $14 million in cash.

The spinout, to be known as Monarch Mining Corporation, is expected to be publicly traded on the Toronto Stock Exchange, under the symbol “GBAR”. The transaction as a whole has been granted shareholder approval, with the arrangement remaining subject to approval from the Superior Court of Quebec. The hearing for sought after approval is to take place January 20, 2021. Monarch shares will continue to trade on the TSX until such approval is granted.

Monarch Gold last traded at $0.55 on the TSX.


Information for this briefing was found via Sedar and Monarch Gold Corp. 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.

One Response

  1. Thanks for the heads up on MQR/YRI acquisition Jay… Any thoughts on precious metals extraction companies which acquire their metals from disposed electronics… data destruction: reusable resource.

Leave a Reply

Video Articles

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

Recommended

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Canadian Copper: The $172M Combined Strategy PEA

Related News

Yamana Gold: Stifel, Canaccord Issue Flash Update Following Preliminary Results

This morning Canaccord Genuity and Stifel GMP released a flash update on Yamana Gold (TSX:...

Thursday, October 8, 2020, 01:13:00 PM

Monarch Gold Reports 311 G/T Gold Over 0.50 Metres At McKenzie Break Project

Monarch Gold (TSX: MQR) this morning announces high-grade assays from its drill program conducted earlier...

Thursday, July 23, 2020, 09:43:59 AM

Yamana Gold To Be Acquired By Gold Fields For US$6.7 Billion

Consolidation is beginning to get underway within the gold space amongst producers. This morning it...

Tuesday, May 31, 2022, 08:19:50 AM

Yamana Gold Closes Acquisition Of Monarch Gold

Last night, Monarch Gold (TSX: MQR) formally announced the completion of the proposed transaction with...

Friday, January 22, 2021, 07:24:58 AM

Monarch Gold Releases Preliminary Second Quarter Results

Monarch Gold Corp (TSX: MQR) has released its preliminary second quarter financial results as well...

Wednesday, January 29, 2020, 09:54:51 AM