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PMI Gold Corporation And Keegan Resources Inc Announces Merger Agreement

Wednesday, 5 Dec 2012 06:45am EST 

PMI Gold Corporation and Keegan Resources Inc. announced that they have entered into a definitive arrangement agreement to combine their respective businesses (the Merger) and to create a West African gold development company. The combined company will continue under the name Asanko Gold Inc., reflective of the West Ghana region in which the two companies hold their principal gold projects. Asanko will be led by Peter Breese, the current President and CEO of Keegan and Collin Ellison, the current Managing Director and CEO of PMI. Under terms of the Merger (which will be effected by means of a statutory plan of arrangement of PMI), each PMI shareholder will receive 0.21 Asanko shares for each PMI share (the Exchange Ratio). As Keegan is the surviving corporate entity, existing Keegan security holders will not need to exchange their securities in the Merger. Existing Keegan and PMI shareholders will each own approximately 50% of the combined company, inclusive of currently in-the-money dilutive securities. PMI has retained Macquarie Capital Markets Canada Ltd. to act as financial advisor and Stikeman Elliott LLP to act as legal advisor. Keegan has retained Canaccord Genuity to act as financial advisor and McMillan LLP to act as legal advisor. 

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10 Feb 2014