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Friday, 13th February 2009 (2081 views)

Victoria Gold has reported that it has agreed to a business combination with StrataGold that will see the two firms merge their operations.

Under the terms of the agreement, approved by the boards of directors of both companies, a proposed all share friendly transaction will take place.

Victoria Gold has stated that it will offer StrataGold shareholders 0.1249 of a Victoria common share for each StrataGold common share they hold, representing a premium of 18.7 per cent at close of market on February 10th 2009.

According to Victoria Gold, consolidating quality advanced gold projects between the two companies will help to "optimise synergies".

Based in Toronto, Ontario, Victoria Gold has 17 gold exploration projects in Nevada, while StrataGold is focused on three prospective gold projects in the Yukon and Guyana.

In other news, Hochschild Mining has made an offer for its joint venture partner Minera Andes, submitting a bid that exceeds an existing deal agreed between Minera and one of its directors.

 

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