The directors of Oliver Gold (OGO-V) and Trillion Resources (TLQ-T) have agreed to merge their companies.
Few details have been released, other than that a merger proposal will be mailed to shareholders before the end of the year. The deal is subject to due diligence and regulatory approval, among other conditions. An exchange ratio has yet to be calculated.
The merged entity will consolidate both companies’ interests in the Segala gold project in Mali, which has a resource of 15.6 million tonnes grading 2.76 grams gold per tonne. Oliver shares the project equally with a 51%-owned subsidiary of Trillion.
A deal that would have seen those companies sell their interest in the project to Nevsun Resources (nsu-t) was cancelled after the parties involved failed to agree on an extended deadline.
The merged company will include representatives of both Oliver and Trillion. It will also hold interests in the Ndarama and Jena mines in Zimbabwe.
In a separate development, Nickelodeon Minerals (NKM-V) and Brett Resources (BRN-T) agreed to a merger of their companies, subject to required approvals.
Nickelodeon President Terry Tucker and Brett President Lawrence Nagy say the exchange ratio will be determined once independent valuations and fairness opinions are in hand. Nagy also is president of Oliver Gold. His long-time partner, Ronald Netolitzky, is chairman of Trillion Resources.
Brett currently holds exploration properties in the Yukon and Indonesia, while Nickelodeon is active in Ireland, Hungary and Zimbabwe.
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