Auryx Receives Shareholder Approval for Proposed Arrangement with B2Gold Corp.

- December 15th, 2011

Auryx Gold Corp.(TSX:AYX,NSX:AXY) announced receiving 99.98% support from shareholders in favor of a proposed arrangement between the Company and B2Gold Corp. The agreemnet will lead to B2Gold Corp acquiring 92% interest in the Otjikoto Nambian gold project and 100% in two other Nambian projects.

As quoted in the press release:

Auryx Gold Corp.(TSX:AYX,NSX:AXY) announced receiving 99.98% support from shareholders in favor of a proposed arrangement between the Company and B2Gold Corp. The agreemnet will lead to B2Gold Corp acquiring 92% interest in the Otjikoto Nambian gold project and 100% in two other Nambian projects.

As quoted in the press release:

On completion of the Arrangement, Auryx will become a wholly-owned subsidiary of B2Gold. Under the terms of the Arrangement, it is expected that on a in the money fully diluted basis Auryx shareholders will receive as consideration, shares representing approximately 10.5% of B2Gold’s issued and outstanding shares following closing. Upon closing of the transaction B2Gold will issue 37.2 million shares in exchange for Auryx shares.

Click here to read the Auryx Gold Corp. (TSX:AYX) press releaseSee this press release on Marketwire
Click here to see the Auryx Gold Corp. (TSX:AYX) profile.

Tags

Tags:

Leave a Reply