Big Ridge Gold Corp. completed the acquisition of Gold Island Inc.
The consummation of the Transaction is subject to a number of conditions customary to transactions of this nature, including, among others, the approval of 66.67% of votes cast by Gold Island's shareholders at a special meeting of Gold Island shareholders. If approved at the meeting, the Transaction is expected to close shortly thereafter, subject to the receipt of the approval of the TSX Venture Exchange. Significant Gold Island shareholders holding approximately 35% of the Gold Island shares have entered into voting and support agreements to vote their shares in favour of the Transaction, subject to certain customary exceptions.
Grant Duthie of Garfinkle, Biderman LLP acted as legal advisor to Gold Island Inc. and Robert Mason of Mason Law acted as legal advisor to Big Ridge Gold Corp. (TSXV:BRAU).
Big Ridge Gold Corp. (TSXV:BRAU) completed the acquisition of Gold Island Inc. on August 11, 2023. Following the closing of the Arrangement, there are 188,053,327 Big Ridge Shares issued and
outstanding (including the issuance of 51,442,492 Big Ridge Shares issued to Gold Island shareholders pursuant to the Amalgamation). With the completion of the amalgamation, Big Ridge will be a premier Newfoundland based gold exploration company.