Calibre Mining Corp. and Marathon Gold Corporation announced the entering into of an arrangement agreement whereby Calibre will acquire all the issued and outstanding common shares of Marathon pursuant to a court-approved plan of arrangement.
Marathon shareholders will receive 0.6164 of a Calibre common share for each Marathon common share held, which implies a value of $0.84 per Marathon common share and gross transaction equity value consideration of $345 million on a fully diluted in-the-money basis.
Existing shareholders of Calibre and Marathon will own approximately 66% and 34% of the combined company, respectively.
The transaction is expected to close in January 2024.
