Granges, Da Capo pool their resources

Vancouver-based Da Capo Resource (DCX-V) and Denver-based Granges (GXL-T) will amalgamate under the name Vista Gold.

The boards of directors of both companies unanimously approved the agreement, which is still subject to the approval of shareholders and the British Columbia Supreme Court.

Shareholders of both companies will vote on the proposed merger on Oct. 22.

Granges’ shareholders would receive one common share of Vista Gold for every share of Granges, whereas holders of Da Capo would be entitled to two shares of Vista for each Da Capo share.

If the deal is approved, as is expected, Vista would trade on the Toronto Stock Exchange under the symbol VGX and on the American Exchange under the symbol VGZ.