An agreement between Golden Star Resources (TSE) and Guyanor Ressources paved the way for the latter’s first public offering in Canada.
The company went public with 6 million Class B common shares on the Toronto Stock Exchange and, in the future, intends to trade publicly on the Paris exchange. Golden Star’s ownership in the company has been reduced to about 70% from 100%.
Proceeds of an $11.6 million offering will be used to explore properties, as well as make capital improvements to the Paul Isnard alluvial gold mine in French Guiana. Guyanor will continue to hold Golden Star’s property interests in French Guiana.
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