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Gran Colombia Gold proposes to merge with Guyana Goldfields and Gold X

Christian Fernsby ▼ | May 12, 2020
Gran Colombia Gold announced that it has signed a definitive agreement to complete a business combination with Gold X Mining and that it has submitted a proposal to Guyana Goldfields to acquire all of its issued and outstanding common shares and together with the Gold X Transaction.
Gran Colombia Gold
Companies   Gran Colombia Gold
The contemplated business combination between Gran Colombia and Gold X is conditional upon the successful concurrent acquisition of Guyana Goldfields, and the proposal to Guyana Goldfields is conditional on the concurrent acquisition of Gold X.

Topics: Gran Colombia Gold Guyana Goldfields Gold X

The combined entity will continue as Gran Colombia and will be managed by the current Gran Colombia executive team, with corporate headquarters remaining in Toronto. Shareholders of Gran Colombia will own ~60% of the combined company, with Guyana Goldfields and Gold X shareholders owning ~25% and ~15%, respectively, on a basic shares outstanding basis.