B2Gold Corp and Volta Resources Inc signed a definitive agreement for the previously announced merger between the two companies. The said transaction is subject to regulatory, court, governmental, and Volta shareholders approvals. This was according to a report published by MarketWatch.
Volta shareholders will hold a special meeting on December 17, 2013 for the approval of the transaction. The Volta Board of Directors already gave a unanimous recommendation in favor of the deal. The B2Gold Board of Directors also gave its approval, the report said.
The acquisition of Volta will add an 81% interest to B2Gold's development portfolio in its Kiaka gold project in Africa. The deal will also add a 100% interest in two other exploration projects in the same area. Upon completion of the transaction, Volta will operate as a wholly-owned subsidiary of B2Gold, the report explained.
B2Gold Corp is a gold-producing company based in Vancouver. The company was founded in 2007. It currently has one mine in the Philippines and two in Nicaragua, MarketWatch said.
Volta Resources is a resource company in Canada with gold exploration projects in Ghana and Burkina Faso, the report stated.
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