New Dawn Mining Corp Gets OK For Full Takeover of Zimbabwe Unit
New Dawn Mining Corp. (ND.TO) said it received approval from minority shareholders at its Falcon Gold subsidiary in Zimbabwe for it to acquire all outstanding minority shares.
It said there are approximately 17,049,000 Falgold ordinary shares held by Falgold minority shareholders. Under the Scheme, all of those Falgold ordinary shares would be acquired by New Dawn, in exchange for either one New Dawn common share for every five Falgold shares, or US$0.20 for every one Falgold share. In the event that a Falgold shareholder does not make an election regarding the form of consideration that they wish to receive, they will be paid cash for their Falgold shares.
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