First Mining Finance Corp. recently brokered a deal to acquire all of the issued and outstanding shares of Goldrush Resources Ltd., a company with two gold projects in Burkina Faso, both companies said on Wednesday.
Under the terms of the agreement, First Mining will acquire the shares of Goldrush in exchange for 0.0714 of a common share of First Mining. Goldrush shareholders approved the deal with a 99.9 percent positive vote.
The full deal still needs court approval, which Goldrush will seek on Monday, with the final closing of the deal expected by Thursday.
First Mining also has granted 2,165,000 stock options to directors, officers, employees and consultants of the company. These stock options have an exercise price of 40 cents per share.
A mineral property holding company, First Mining has 21 mineral assets in Canada, Mexico and the U.S., with a focus on gold.
Goldrush is a Canadian mineral exploration company centering on gold exploration. It has a treasury of approximately $2,454,253, royalty interests on two gold projects in Burkina Faso and receivables valued at up to $750,000.
More Stories
- ECOWAS awards women's agricultural innovations at MITA event
- Sierra Leone's president seeks investment at international dialogue on feeding Africa
- ECOWAS President meets with Economic Affairs Standing Committee in Abuja
- US Rep. Hill on Tigran Gambaryan: 'It’s well past time he return home safely'
- Sierra Leone's president seeks US collaboration on agriculture
- West African College inaugurates new hotel complex amid annual meeting
- ECOWAS funds youth training programs in agroforestry and fisheries
- ECOWAS experts meet in Lomé to discuss future strategic plans
- ECOWAS delegation assesses Guinea-Bissau stabilisation efforts
- ECOWAS partners with Ecobank on empowerment programme for women traders