Oromin Explorations (
TSX: T.OLE,
Stock Forum) late Monday announced that it has agreed to an amended offer by Teranga Gold (
TSX: T.TGZ,
Stock Forum) to acquire all of the outstanding common shares of Oromin that it does not
already own.
The new offer reflects an increase in the exchange ratio from 0.582, as announced on June 3, 2013, to 0.60 of a Teranga common share for each Oromin share held.
Teranga Gold has lock-up agreements representing approximately 33.4% of the outstanding Oromin shares.