Gran Colombia offers $315M in friendly, all-share offer for Gold X - Canadian Mining Journal

Gran Colombia Gold (TSX: GCM) is acquiring
Gold X Mining (TSXV: GLDX) in an all-share deal valued at $315 million, after a
three-way merger proposal that included Guyana Goldfields was scuttled last year by
The combination of assets – Gran Colombia’s producing Segovia operations and Gold X’s Toroparu advanced gold project in Guyana – would create a new “Latin American-focused growth platform.”
Highlights of the transaction include an enhanced balance sheet and access to capital (the combined company would have $100 million in cash), and greater market visibility and interest. Both Segovia and Toroparu also have significant growth and exploration potential.
Gran Colombia already owns an 18% stake in Gold X. The offer implies a 39% premium based on the closing price of Gold X shares on Mar. 12.

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