- Calibre Mining Corp. (CXB) shareholders have approved the proposed acquisition of Fiore Gold Ltd.
- The arrangement is expected to be completed on January 12
- 232,467,816 shares, representing 68.33 per cent of the issued and outstanding Calibre shares, were voted at the shareholder’s meeting
- The acquisition will enable the development of the Gold Rock project in Nevada and the Eastern Borosi project in Nicaragua
- Calibre Mining Corp. (CXB) is down 3.01 per cent and is trading at $1.29 per share as of 3:00 p.m. EST
Calibre Mining Corp. (CXB) shareholders have approved the proposed acquisition of Fiore Gold Ltd.
Shareholders also approved certain LTIP amendments to Calibre’s long-term incentive plan to be implemented only upon the completion of the arrangement.
Fiore shareholders also approved the arrangement at the special meeting of shareholders.
The arrangement is expected to be completed on January 12th.
More than 68 per cent of the issued and outstanding Calibre shares were voted at the shareholder’s meeting.
Each of the Calibre shareholder and LTIP amendments resolutions has been approved by a strong majority of votes cast.
Highlights of the transaction include creating a diversified, Americas-focused, growing mid-tier gold producer with annual gold productions of approximately 245,000 ounces.
The acquisition will also result in a strong balance sheet with $96 million in cash and zero bank debt while enabling the development of the Gold Rock project in Nevada and the Eastern Borosi project in Nicaragua.
Calibre Mining is a Canadian-listed international gold mining and exploration company with assets located in regions across Nicaragua.
Calibre Mining Corp. (CXB) is down 3.01 per cent and is trading at $1.29 per share as of 3:00 p.m. EST.
