New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 17, 2013
17:36 EDTKGNKeegan Resources, PMI announce interim order for merger of equals
PMI Gold Corporation and Keegan Resources announce that further to the previously announced merger of equals between the two companies, an interim order of the Superior Court of British Columbia has been obtained. The Interim Order provides for the calling and the holding of a special meeting of shareholders of PMI to consider and approve the arrangement. The granting of the Interim Order was a condition to the completion of the Merger. As well, a special meeting of the Keegan shareholders is scheduled to be held on February 19 to consider certain resolutions required to give effect to the Arrangement. The record date for the Keegan special meeting was also January 16. If approved by the PMI Shareholders and the Keegan Shareholders Keegan will acquire all of the outstanding common shares of PMI. The combined company will continue under the name "Asanko Gold", reflective of the West Ghana region in which the two companies hold their principal gold projects. Asanko will be led by Peter Breese, the current president and CEO of Keegan and Collin Ellison, the current Managing Director and CEO of PMI. Under terms of the Merger, each PMI Shareholder will receive 0.21 common shares of Asanko for each PMI share exchanged. In addition, all outstanding options and warrants of PMI that have not been duly exercised prior to the effective time of the arrangement will be exchanged for options and warrants of Asanko that will entitle the holders to receive, upon exercise thereof, Asanko shares based upon the Exchange Ratio and otherwise on the same terms and conditions as were applicable to such PMI options and warrants immediately before the Effective Time. As Keegan is the surviving corporate entity, existing Keegan security holders will not need to exchange their securities in the Merger. Asanko will maintain its TSX and NYSE MKT listings, and has applied to list on the ASX subject to completion of the Merger.
News For KGN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for KGN

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use