Gran Columbia Gold, Medora Resources 2% Lower as Miners Complete Merger

By Midnight Trader,  June 13, 2011, 10:59:45 AM EDT

Merger partners Gran Columbia Gold Corp (GCM.TO) and Medora Resources (MRS.TO) are lower this morning after the companies said they have now completed their business combination and related stock swap.

Medoro shareholders received 1.20 common shares of Gran Colombia plus one half of a common share purchase warrant for each Medoro share they had held. Those shares are now worth about 2% less than they did at Friday's close, with shares of the surviving Gran Columbia slipping $0.02 to $0.99 each after earlier falling as low as $0.95 a share.

Medoro shares are down about 2% at $1.54 a share.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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