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Santa Fe Gold Corp And International Goldfields Ltd Sign Definitive Merger Agreement


Tuesday, 19 Feb 2013 08:30am EST 

Santa Fe Gold Corp announced the signing of a definitive merger agreement with International Goldfields Limited. The merger has been approved by the boards of directors of both companies and consummation is targeted for the second quarter of 2013, subject to satisfaction of closing conditions and approval by Santa Fe's shareholders. The Merger Agreement provides that the IGS Common Shares shall be delivered to the holders of SFEG Common Stock in the form of American Depositary Receipts. The merger is subject to the ADRs being approved for listing, and subject to their issuance, on the NYSE MKT. IGS Common Shares also will continue to trade on the ASX. The Merger is subject to IGS closing an equity financing that would result in IGS having at least AUD10,000,000 in available cash, after deduction of transaction-related fees, and a maximum of AUD100,000 in total indebtedness. Assuming the completion of the minimum required amount of the IGS offering, Santa Fe stockholders would hold collectively approximately 61.6% of the outstanding IGS Common Shares. 

Company Quote

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24 Nov 2014