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Under the proposed agreement, Medoro will issue 29,266,856 shares and 940,720 warrants to the stockholders of Colombia Goldfields in exchange for the 104,524,486 outstanding shares of Colombia Goldfields.
The share exchange ratio is 0.28 of a share plus 0.01 of a consideration warrant of Medoro for each share of Colombia Goldfields. Each full warrant is exercisable into one Medoro common share at a subscription price of CAD0.5 ($0.45) per Medoro common share for a term of two years.
On completion of the proposed arrangement Colombia Goldfields' stockholders will own approximately 25% of Medoro based upon Medora's issued and outstanding shares as of June 8, 2009.
Deal Value (US$ Million) 13.07 Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Announced: 2009-06-08
Deal Participants
Target (Company) Colombia Goldfields, Ltd. Acquirer (Company) Medoro Resources, Ltd.
Deal Rationale
The proposed acquisition would give Medoro Resources' a well-developed asset that helps it to diversify its portfolio of properties.
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