(Kitco News) – Endeavour Mining (TSX:EDV) announced today that Endeavour’s shareholders have voted overwhelmingly in favour of the resolution in support of the plan of arrangement pursuant to which Endeavour will indirectly acquire all of the common shares of Teranga Gold.
President and CEO Sebastien de Montessus commented, “We are pleased to have the continued strong support of our shareholders as we take this important step to create a new top 10 senior global gold producer which will offer a very appealing investment proposition. The combined entity will boast a high-quality portfolio of mines and projects, sustainable dividends, a healthy balance sheet, strong cash flow generation and an improved capital markets profile. We look forward to closing the transaction and quickly integrating our highly complementary assets to unlock the anticipated material synergies.”
The company noted that as shareholder approvals for the arrangement have now been obtained by both Endeavour and Teranga, Endeavour will seek to secure the last material closing condition under the arrangement agreement, being approval under the Investment Canada Act.
Assuming all the remaining customary conditions to the arrangement are satisfied or waived, the closing of the transaction is expected to occur during the first half of February.
Endeavour Mining is a TSX listed a multi-asset gold producer focused on West Africa, with two mines (Ity and Agbaou) in Côte d’Ivoire, four mines (Houndé, Mana, Karma and Boungou) in Burkina Faso, four potential development projects (Fetekro, Kalana, Bantou and Nabanga) and a strong portfolio of exploration assets on the highly prospective Birimian Greenstone Belt across Burkina Faso, Côte d’Ivoire, Mali and Guinea.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.