Amarillo Gold Corporation (TSX: AGC) (“Amarillo”) and Lavras Gold Corp. (“Lavras Gold” or the “Company”) have completed the plan of arrangement (the “Arrangement”) transaction involving the acquisition of Amarillo by a subsidiary of Hochschild Mining PLC (“Hochschild”) and spinout of Lavras Gold. Pursuant to the Arrangement, each share of Amarillo has been exchanged for cash consideration of C$0.40 and one common share (each, a “Lavras Gold Share”) of Lavras Gold, a new Brazil-focused exploration company, based in Toronto, Ontario.
Amarillo is now a wholly owned subsidiary of Hochschild. It is anticipated that Amarillo will be de-listed from the TSX Venture Exchange (the “TSXV) and will apply to cease to be a reporting issuer.
Lavras Gold Corp.
Concurrent with the closing of the Arrangement, Lavras Gold was launched as a standalone well-capitalized mineral exploration company owned entirely by former Amarillo shareholders. Lavras Gold holds all the Lavras do Sul gold project assets owned by Amarillo prior to closing of the Arrangement.
Conditional listing approval for the Lavras Gold Shares has been received from the TSXV. Upon satisfaction of the listing conditions of the TSXV, Lavras Gold Shares are expected to trade on the TSXV under the symbol “LGC”. Trading of the Lavras Gold Shares on the TSXV is anticipated to occur in approximately four to five trading days from today.
Source: Financial Post