The two juniors are related in that they hold shares in each other and have certain directors and senior management personnel in common. Name of the amalgamated company will be Consolidated Thompson-Lundmark Gold Mines.
Each shareholder of Thompson will receive one share of the new company for each old share, while each shareholder of Quebec Cobalt will receive one share of the new company for two old shares.
On an undiluted basis, the amalgamated company will have about 4.34 million shares outstanding.
Six directors will sit on the board of the new company: A. M. Clarke, M. R. Evarts, P. N. McCarter, J. H. McDowell, Ulrich Petersen and J. G. Strasser.
Although the new Consolidated Thompson will have interests in a number of properties, working plans have been drawn up for only one project, a 50-claim holding in Bruyere Twp., 30 miles northeast of Wawa, Ont. Evarts, the president, said two companies have expressed an interest in helping to explore the gold property.
A proposed amalgamation involving Consolidated Thompson, Quebec Cobalt and private company Ghanorcan Resources fell through earlier this year.
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