Roxgold (ROGFF) and Fortuna Greenlight Business Shareholders Combo to Create Gold and Silver Producer
What’s going on with Roxgold?
Roxgold (ROGFF) announced that its shareholders, along with the shareholders of Fortuna, have approved an agreement in which Fortuna acquires all of the outstanding common shares of Roxgold through a business combination. The company’s shares were trading down -1.31% to $ 1.51 per share on Tuesday.
What does this mean for RoxGold?
Upon completion of the Arrangement, all current Fortuna shareholders and former Roxgold shareholders will be entitled to approximately 63.6% and 36.4% of the outstanding Fortuna shares. Fortuna will continue to operate under the name “Fortuna Silver Mines Inc.” with the ticker symbol “FVI” on the Toronto Stock Exchange and “FSM” on the New York Stock Exchange, and Roxgold will become a wholly owned subsidiary of Fortuna. Roxgold will be delisted from the Toronto Stock Exchange and a request will be made to have Roxgold cease to be a reporting issuer.
Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC (“Glass Lewis”), two large proxy advisory firms that provide independent voting recommendations to institutional investors, previously recommended that shareholders of Fortuna and Roxgold vote in favor of the respective companies. resolutions relating to the proposed business combination.
Roxgold Inc., a gold mining company, is engaged in the exploration, appraisal and development of mineral properties.
ROGFF has a Short Term Technical Rank of 60. Find out what that means to you and get the rest of the rank on ROGFF!
Roxgold Inc is a Canadian gold mining company. It is engaged in the acquisition and exploration of mining properties. The company has two sectors to present; Mining operations and Exploration and evaluation of mining properties, located in Burkina Faso. Its main asset is the Yaramoko Gold Mine, located in the Houndé Greenstone Belt in Burkina Faso, West Africa, and the Seguela Gold Project located in Côte d’Ivoire, South Africa. Where is. The company’s main income comes from the sale of gold.