Junior Nahanni Mines (TSE) will combine with Prospero Canadian Land Investment Fund to form a new company, RG Properties.
The merger calls for a consolidation of one RG share for 12.5 Nahanni shares. The issued share capital will consist of 1,000 voting shares and 10.2 million restricted voting common shares. The shares have been conditionally approved for trading on the Toronto Stock Exchange.
Prospero will become a wholly owned subsidiary of RG. The former’s assets consist of six revenue-producing properties in British Columbia which have a combined equity value of $16.5 million.
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