Wesdome Gold Mines Ltd and Windarra Minerals Ltd finalized a definitive agreement on the former's proposed acquisition of the latter's common shares. The transaction detailed that Wesdome will acquire ten Windarra Shares for every one Wesdome share. In a joint statement, the presidents of both companies, Donovan Pollitt of Wesdome and John Pallot of Windarra said, "People familiar with the combined assets and the long history of both companies are delighted that they have logically come together. It is clearly a win-win deal."
The agreement allows shareholders to become full owners of over 24 kilometers of the Mishibishu Deformation Zone, the company heads declared. In addition, they will also have a 100% stake in the Eagle River Deformation Zone (more than 18 kilometers) as well as the Eagle River Mill Complex. The mining companies' joint statement also said that the transaction widens their operations and will give it "outstanding exploration and expansion potential."
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