The boards of directors of two Hughes-Lang firms, D’Or Val Mines (TSE) and Perron Gold Mines (ME), have approved a plan of amalgamation for the companies. Name of the new corporate entity has not been revealed.
Shareholders of the two companies will vote Aug 4 on the amalgamation. Shareholders of D’Or Val will receive 0.4167 shares of the new company for each D’Or Val share, while Perron shareholders will receive 0.5 shares of the new company for each Perron share held.
The new company will have about 20.9 million shares outstanding, with its major property being the Sleeping Giant gold mine in northwestern Quebec, which was recently placed into production.
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