Venezuelan explorers Rusoro Mining (RML-V) and Mena Resources (MEA-V) have announced a friendly takeover by Rusoro that will bring the Increible and Valle Hondo joint ventures under one corporate roof.
Rusoro will issue one share for each 1.7 Mena shares tendered to its offer, which would require Rusoro to issue 12.4 million shares. Mena shareholders would have about 10% of Rusoro.
Mena also brings in a stable of gold projects in the Yukon, Chile and Honduras.
The merger will require regulatory approval.
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