Argonaut Gold Inc. and Pediment Gold Corp. Complete Business Combination
Argonaut Gold Inc. (TSX: AR) and Pediment Gold Corp. (TSX:PEZ) have announced on the 27th January 2011 the completion of their previously announced plan of arrangement. Argonaut has acquired all of the issued and outstanding common shares of Pediment in a transaction valued at approximately $137 million. In accordance with the Arrangement, former Pediment shareholders are entitled to receive 0.625 of a common share of Argonaut for each Pediment Share. The Pediment common shares are expected to be delisted from the TSX on or about February 1, 2011. The Argonaut Shares issued under Arrangement will be listed on the TSX the same day that the Pediment Shares are de-listed from the TSX.
Those who hold this stock have had their portfolios updated to reflect this, for further information click on the link below: