Shareholders of International Mahogany (VSE), Goldsil Resources (VSE) and Magellan Resources (VSE) approved the proposed merger of the three companies. Each class A share of International Mahogany will receive one class A share of the new company while the class B shareholders will be entitled to one class B share of the new company.
Each Goldsil shareholder will receive 0.22 class B shares for each share held while Magellan shareholders will also receive 0.22 class B shares of the new company.
The effective date of the proposed amalgamation is expected to be Dec. 1. The new company will have 150,000 class A shares and 16,942,087 class B shares outstanding.
Be the first to comment on "Amalgamation approved"