- QMX Gold Corporation (QMX) has obtained a final order from the Ontario Superior Court of Justice
- The order approves the previously announced arrangement with Eldorado Gold Corporation
- Eldorado will acquire all of the issued and outstanding common shares in the capital of QMX Gold
- QMX Shareholders will receive C$0.075 in cash and 0.01523 of an Eldorado common share for each share held
- QMX Gold is up 1.75 per cent on the day, with shares of the company trading at C$0.29 at 12:25 pm ET
QMX Gold Corporation (QMX) has obtained a final order from the Ontario Superior Court of Justice.
The order approves the previously announced plan of arrangement with Eldorado Gold Corporation.
If the arrangement is completed, Eldorado will acquire all of the issued and outstanding common shares in the capital of QMX Gold.
In exchange, QMX Shareholders will receive C$0.075 in cash and 0.01523 of an Eldorado common share for each share held.
QMX is a Canadian-based resource company traded on the TSX Venture Exchange under the symbol QMX. The Company is systematically exploring its extensive property position in the Val d’Or mining camp in the Abitibi District of Quebec.
QMX is currently drilling in the Val d’Or East portion of its land package focused on the Bonnefond Deposit and in the Bourlamaque Batholith. In addition to its extensive land package QMX owns the strategically located Aurbel gold mill and tailings facility.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil. Eldorado has a portfolio of high-quality assets, and long-term partnership with local communities.
Eldorado’s common shares trade on the TSX and NYSE.
QMX Gold is up 1.75 per cent on the day, with shares of the company trading at C$0.29 at 12:25 pm ET.