Recently, Acadian Mining shareholders have approved arrangement to acquire LionGold at a recently held meeting.
Under the terms of the agreement, LionGold has agreed to acquire all of the issued and outstanding common shares of Acadian Mining, other than the Acadian shares it currently owns, by way of a statutory plan of arrangement under the Canada Business Corporations Act.
The arrangement’s effective date is scheduled on or about 11October 2013 and the total consideration payable to Acadian shareholders is approximately C$6.98m ($6.77m).
Acadian operates several gold projects located in Atlantic Canada and also owns barite properties on Cape Breton Island, Nova Scotia.
