Animas Resources Acquisition
On April 23, 2014, GoGold Resources Inc. and Animas Resources Ltd. completed the previously announced arrangement, whereby GoGold has acquired, by way of court-approved plan of arrangement, 100 per cent of the issued and outstanding securities of Animas. Animas's shares have been delisted from the TSX Venture Exchange.
Pursuant to the terms of the arrangement, holders of common shares of Animas received seven cents in cash and 0.0851 of a common share of GoGold for each Animas share (for a deemed offer price of 15 cents for each Animas share based on the closing price of GoGold shares on Dec. 27, 2013), and one GoGold share for each 94 cents of cumulative in-the-money value of Animas options, calculated using the deemed price, rounded down to the nearest whole GoGold share.
Following the arrangement, GoGold owns and controls 100 per cent of the issued and outstanding Animas shares. All outstanding Animas options and other convertible securities were cancelled pursuant to the arrangement.
The GoGold shares have been conditionally approved for listing on the Toronto Stock Exchange, subject to receipt by the TSX of certain standard documentation required by it in connection with completion of the arrangement.