Gold Texas seeks court injunction

An injunction is being sought by Gold Texas Resources (VSE) against Malartic Hygrade Gold Mines (VSE) which, if approved, would prevent the latter from voting its shareholding at any Gold Texas shareholder meeting. Gold Texas, Crown Resources, and Gold Capital had planned an amalgamation and, following that, a merger with Malartic Hygrade had been discussed.

According to Mark Jones, the president of Gold Texas, after negotiations commenced Malartic acquired “up to approximately 19% of the company’s shares by a private transaction and through the facilities of the Vancouver Stock Exchange.” In the injunction, Gold Texas is asking for the right to vote Malartic’s shareholding at any meeting.