ValOre Sets Stage for Strategic Amalgamation with South Atlantic
Deal News | May 21, 2025 | Globenewswire
ValOre Metals Corp. and South Atlantic Gold Inc. are progressing with their amalgamation plans, scheduled for completion by June 18, 2025. A shareholders' meeting is set to vote on this merger, which, if approved, will see ValOre indirectly acquire all South Atlantic shares through its subsidiary 1529317 B.C. Ltd., in exchange for ValOre shares. South Atlantic’s board recommends approval, while regulatory and customary conditions await satisfaction. Detailed terms reside in the Amalgamation Agreement and Circular distributed to South Atlantic shareholders. Investors are cautioned regarding forward-looking statements and potential risks involving the approval process, market conditions, or unforeseen events impacting the successful conclusion of this merger.
Sectors
- Mining & Metals
- Corporate Finance
Geography
- Canada – The companies involved, ValOre Metals Corp. and South Atlantic Gold Inc., are both based in Canada, and the amalgamation activities are taking place under Canadian business laws.
Industry
- Mining & Metals – The article involves companies that are in the mining sector, focusing on the exploration and acquisition of mineral properties.
- Corporate Finance – The proposed amalgamation involves corporate finance activities such as the exchange of shares and regulatory approval proceedings.
Financials
- – The article does not specify the financial terms of the amalgamation, such as the value of the exchange of shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ValOre Metals Corp. | Bidding Company/Buyer | Company | A Canadian company engaged in deploying resources for high-value mineral projects, currently pursuing a merger with South Atlantic Gold Inc. |
| South Atlantic Gold Inc. | Target Company | Company | An exploration company focusing on mineral property acquisition in the Americas, merging with ValOre Metals Corp. |
| 1529317 B.C. Ltd. | Subsidiary/Bidding Company | Company | A wholly-owned subsidiary of ValOre formed to facilitate the amalgamation with South Atlantic Gold Inc. |
| TSX Venture Exchange | Regulator | Government | Provides conditional approval for the amalgamation, subject to regulatory compliance. |
| Douglas Meirelles | South Atlantic President and CEO | People | Point of contact for South Atlantic shareholders regarding the amalgamation process. |