Pasofino Gold Wins Court Approval for Going-Private Deal With Mansa Resources

An update from Pasofino Gold ( (TSE:VEIN) ) is now available.

Pasofino Gold has received a final court order from the Supreme Court of British Columbia approving its previously announced plan of arrangement with Mansa Resources. Under the deal, Mansa, via a wholly owned subsidiary, will acquire all Pasofino common shares it does not already own for C$0.90 in cash per share.

Once the transaction closes, Mansa will indirectly own 100% of Pasofino’s outstanding shares and plans to delist the stock from the TSX Venture Exchange. Pasofino will also seek to cease being a reporting issuer in Canada, effectively ending its public reporting obligations and taking the gold explorer private.

The most recent analyst rating on (TSE:VEIN) stock is a Hold with a C$0.88 price target. To see the full list of analyst forecasts on Pasofino Gold stock, see the TSE:VEIN Stock Forecast page.

Spark’s Take on VEIN Stock

According to Spark, TipRanks’ AI Analyst, VEIN is a Neutral.

The score is held back primarily by weak financial fundamentals (no revenue, losses, cash burn, and negative equity). Technicals are relatively supportive with price above major moving averages and positive momentum indicators, but valuation remains constrained by unprofitability and no dividend support.

To see Spark’s full report on VEIN stock, click here.

More about Pasofino Gold

Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSX Venture Exchange under the symbol VEIN. Through its wholly owned subsidiary, the company holds 100% of the Dugbe Gold Project in Liberia, prior to the issuance of the Government of Liberia’s 10% carried interest, positioning it as a player in West African gold development.

Average Trading Volume: 141,479

Technical Sentiment Signal: Hold

Current Market Cap: C$137.5M

For detailed information about VEIN stock, go to TipRanks’ Stock Analysis page.