The directors and independent board committees of Anglo Dominion Gold Exploration (TSE), The Conigas Mines (TSE), Garrison Creek Consolidated Mines (CDN) and Quebec Sturgeon River Mines (TSE) have approved the proposed amalgamation of the four gold companies.
Designed to rationalize mining operations and streamline administration, the amalgamation would create a single corporation called QSR. The company would be based in Toronto and listed on the TSE and NASDAQ.
Share exchanges, based on the following ratios, would be made — 32 shares of QSR for 100 common shares of Conigas; 20 shares of QSR for 100 shares of Quebec Sturgeon; 18 shares of QSR for 100 shares of Anglo Dominion; and seven shares of QSR for 1,000 shares of Garrison Creek.
Special shareholders meetings will be held in Toronto on Dec. 18 to consider approval of the amalgamation.
Be the first to comment on "NEWS ROUNDUP — Board approval for Conigas merger"