TORONTO - Marathon Gold Corporation has announced that it has received final approval from the Ontario Superior Court of Justice for its Arrangement with Calibre Mining Corp. This court sanction clears the path for the completion of the transaction, which is expected to occur on January 24, 2024. As part of the Arrangement, Marathon shareholders are set to receive 0.6164 of a Calibre share for each Marathon share they currently hold.
The strategic merger comes following environmental approvals for the Valentine Gold Project in Newfoundland & Labrador, which is projected to produce approximately 195,000 ounces of gold annually over a twelve-year period. This production estimate contributes to the total mine life of about fourteen years for the project. The details of the shareholder exchange rate for the Arrangement were previously disclosed in Marathon's management information circular from December 2023, which is publicly accessible on SEDAR+ and the Marathon Gold Corporation website.
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