![]() ![]() The transaction approved by Minco Silver Corporation shareholders in annual general and special meeting held on June 25, 2015. completed the acquisition of Minco Resource Limited from Minco Gold Corporation (TSX:MMM) on July 31, 2015. acted as registrar to Minco Gold and Minco Silver Corporation. acted as the independent third party valuator in the deal. Minco Gold Corporation intends to use the proceeds from the transaction to pursue strategic mineral acquisitions, joint ventures or other transactions outside of China. The transaction is expected to close on or before July 31, 2015. The Board of Minco Gold Corporation and Minco Silver Corporation have unanimously recommended their shareholders to approve the deal. Closing is also conditional on the holders of no more than 5% of the outstanding common shares of Minco Gold Corporation having exercised their rights of dissent in respect of the sale resolution. The transaction is conditional on receipt of requisite shareholder approval of Minco Gold and Minco Silver Corporation (TSX:MSV) in a meeting to be held on Jas well as approval by Toronto Stock Exchange. Ltd.Īs of December 31, 2014, Minco Resource had total assets of CAD 28.70 million, revenues of CAD 0.1 million and total common equity of CAD 28.66 million. Minco Resource Limited holds 51% stake in The Changkeng gold project through its subsidiary, Guangdong Mingzhong Mining Co. At closing, the purchase price shall be partially set off by Minco Gold's outstanding indebtedness to Minco Silver in the amount of CAD 3.70 million and the balance amount shall be subject to adjustments. An advance payment in the amount of CAD 1.60 million was paid at the time of agreement. The consideration payable will be CAD 13.7 million for 1 million shares of Minco Resource and CAD 0.04 million for the loan payable by Minco Resource to Minco Gold Corporation. ![]() entered into a share purchase agreement to acquire Minco Resource Limited from Minco Gold Corporation (TSX:MMM) for CAD 13.73 million on May 22, 2015. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |