GCM Mining to acquire Aris Gold, shares up - CanadianInvestor CanadiansInvest
F-OTCQX] not already held by GCM. The resulting entity will be named Aris Gold Corp. and will be led by Ian Telfer as Chair and Neil Woodyer as CEO and director.
GCM shares advanced on the news, rising 8.5% or 30 cents to $3.70 on volume of 397,000. The shares had previously traded in a 52-week range of $6.13 and $3.13. Both the GCM and Aris Gold boards of directors have approved the terms of the agreement. All of the directors of officers of both companies have into binding support agreements in favour of the transaction, representing 3.0% of GCM’s shares and 9.0% of the Aris shares.
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