RE:This should be illegal This is a twisted web.
Manson was a director of Fiore Gold.
Here is the twist. Do friends count? I just don't know?
- Calibre Mining (TSX: CXB) announced Monday that it has entered into a definitive arrangement agreement with Fiore Gold (TSXV: F), whereby Calibre will acquire all of the issued and outstanding common shares of Fiore pursuant to a court-approved plan of arrangement.
"This transaction will create a diversified, Americas-focused, growing mid-tier gold producer with targeted annual gold production of approximately 245,000 ozs. The combined company will have comprehensive technical capabilities to exploit a pipeline of development and exploration opportunities across a broader portfolio. This growth strategy will be supported by a strong balance sheet with a combined cash balance of $96 million and no bank debt (as at September 30, 2021)," the company said in a statement.
Pursuant to the transaction, Fiore shareholders will receive 0.994 of a Calibre common share and C$0.10 in cash for each Fiore common share held. The consideration implies C$1.80 per Fiore common share, a premium of 44% based on the closing prices of Calibre and Fiore common shares on October 22, 2021.