Latest News
Argonaut Gold, Alio Gold Win Shareholder Nods for Merger
Friday 22 May 2020

Canadian gold miners Argonaut Gold Inc. (TSX: AR) and Alio Gold Inc. (TSX: ALO) (NYSE-A: ALO) have won approval from shareholders and shareholders and certain securityholders (respectively) for a merger deal reported on March 30, , creating a diversified, North American intermediate gold producer, the companies said.

On closing of the transaction, Argonaut and Alio shareholders will own approximately 76% and 24% of the merged company, respectively, on an issued share basis.

The merged company will continue as Argonaut Gold with the ticker symbol AR on the Toronto Stock Exchange.

The closing of the transaction is subject to standard conditions precedent for a merger transaction, including approval of the transaction by the British Columbia Supreme Court and receipt by Argonaut and Alio of all required regulatory and government approvals, and is expected to close in June.

Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production. Its primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico and the La Colorada mine in Sonora, Mexico.

Advanced exploration projects include the Cerro del Gallo project in Guanajuato, Mexico and the Magino project in Ontario, Canada.

The company continues to hold the San Antonio advanced exploration project in Baja California Sur, Mexico and several exploration stage projects, all of which are located in North America.

Alio Gold is a gold mining company. We are focused on the safe and profitable production of gold from our cornerstone asset, the 100% owned Florida Canyon Mine in Nevada, USA.

The company also owns the development stage Ana Paula Project in Guerrero, Mexico.
Date Published: 22/05/2020