Vancouver – Four months after its announcement, shareholders of American Bonanza Gold Mining (BZA-V), International Taurus Resources (ITS-V) and Fairstar Explorations (FFR-T) have approved the merger-property consolidation amongst the trio.
With overwhelming shareholder approval in hand, American Bonanza and International Taurus will now merge to form the new American Bonanza Gold, which will then consolidate project ownership of the Fenelon project by acquiring Fairstar Explorations’ interest.
The new American Bonanza Gold will issue 6.5-million shares to Fairstar for its 38% interest in the high-grade Fenelon gold project plus its other properties in the Casa Berardi gold camp of western Quebec. Fairstar plans to distribute the shares to its shareholders.
In addition to the Fenelon gold project, the new company will hold the past-producing high-grade Copperstone gold project in Arizona, where a production decision is anticipated this year, and the Taurus gold project in northwestern British Columbia.