Shareholders of Jamex Resources (ME) and Dungannon Explorations (VSE) have approved an amalgamation plan which will result in the formation of a new company, Claddagh Gold.
It is proposed Claddagh be listed on the ME and VSE. Shareholders will receive one Claddagh share for each Jamex or Dungannon share.
The new Claddagh owners plan to sell the company’s Irish interests to Celtic Gold, an Irish firm, in return for 11 million shares (62% interest) of Celtic. Claddagh will retain minority oil and gas interests in Alberta and the U.S., and a 100% interest in the Red Ledge gold prospect in California.
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