Fortuna and Roxgold complete combination to create an intermediate gold and silver producer
(Kitco News) - Fortuna Silver Mines and Roxgold announced Friday the completion of the previously announced business combination between the companies to create a global premier growth-oriented intermediate gold and silver producer.
According to a statement, under the terms of the transaction, Fortuna acquired all the issued and outstanding common shares of Roxgold in exchange for 0.283 of a common share of Fortuna and C$0.001 in cash for each Roxgold share held. Upon completion of the transaction, Roxgold is a wholly-owned subsidiary of Fortuna.
Fortuna said that the successfully completed business combination creates a low-cost intermediate gold and silver producer with four operating mines and a permitted development project.
The company added it will benefit from a robust exploration pipeline and expanded presence in the Americas and West Africa, two of the fastest growing precious metals producing regions in the world.
Fortuna Silver Mines is a Canadian precious metals mining company with four operating mines and a development project in Argentina, Mexico, Peru, Côte d’Ivoire, and Burkina Faso.
Roxgold is a Canadian-based gold mining company with assets located in West Africa. The company owns and operates the high-grade Yaramoko gold mine located on the Houndé greenstone belt in Burkina Faso and is advancing the development and exploration of the Séguéla gold project located in Côte d’Ivoire.