Calibre shareholders approve share issuance for Fiore Gold acquisition
Canada-based gold explorer and miner Calibre Mining reports that, at a special meeting of shareholders held on January 5, its shareholders voted overwhelmingly in favour of a resolution approving the issuance of up to 108.19-million of its common shares in connection with the proposed acquisition of Fiore Gold.
Fiore’s shareholders also gave their approval for the transaction during a separate special meeting on January 5.
Under the terms of the acquisition, announced in October 2021, Fiore shareholders will receive 0.994 of a Calibre common share and C$0.10 in cash for each Fiore share held.
Calibre reported in October 2021 that the transaction would create a diversified, Americas-focused and growing midtier gold producer with output of about 245 000 oz/y.
As part of the acquisition, Calibre will gain control of Fiore’s Pan gold mine, the adjacent Gold Rock project and the past-producing Illipah gold project, in Nevada, in the US, as well as the Gold Eagle project, in Washington state.
The arrangement is expected to be completed on January 12, subject to approval by the Supreme Court of British Columbia and satisfaction of certain other closing conditions.
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