Karora Resources, Inc. (TSE:KRR) has released an update.
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Karora Resources Inc. is set to merge with Westgold Resources Limited, with Karora shareholders receiving a mix of Westgold shares, cash, and shares in a new spin-off entity, representing a significant premium over the current market value. The merged entity, to be named Enlarged Westgold, will boast a market capitalization of around A$2.2 billion and a robust portfolio of assets focused on Western Australian projects. The deal, which has been approved by both companies’ boards, will result in a nearly even ownership split between the shareholders of the two companies.
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