Sikaman merges with private firm

Name of the amalgamated company will be Sikaman Gold Resources. Thomas Griffis, who headed both companies, will serve as the president of the amalgamated company.

Sikaman is active internationally, with mining properties in Ghana and Mali in West Africa, in Australia and Bolivia, and in Canada at Snow Lake, Man., and in the Northwest Territories. A production start-up for the Bogosu gold project in Ghana, in which Sikaman has a 15.5% interest, has been announced for the third quarter of 1990.

Shefford was exploring a separate gold property in Ghana and had a joint interest with Sikaman in a Mali property.

Sikaman shareholders will receive one new share for each old share. Shefford shareholders will receive 3.25 units for 10 Shefford common shares, each unit comprising one Series A preferred share and one Series B preferred share in the amalgamated company.

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