Gateway plans an amalgamation

Toronto-based junior Gateway Uranium Mines (CDN) plans to amalgamate with a newly incorporated company, as yet unnamed, and simultaneously exchange shares with American Gold Resources, a private U.S. company.

The amalgamated company, to be known as International Gold Resources, will have 8.3 million shares outstanding. Of those, Gateway shareholders will receive 500,000 shares, shareholders in American Gold will get 5.7 million shares and shareholders in the unnamed company will receive 2.1 million shares and warrants to buy an additional one million shares at $2.75 for one year.

As part of the amalgamation, $5 million in debentures will be raised by Aug. 31.

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