White Rock Minerals Ltd (ASX:WRM) White Rock to Acquire AuStar Gold
ASX:AUL) and White Rock Minerals Ltd (
OTCMKTS:WRMCF) are pleased to advise that they have entered into a binding Merger Implementation Deed (MID), pursuant to which it is proposed that White Rock will acquire 100% of the issued share capital of AUL via a scheme of arrangement between AuStar Gold and its shareholders (the Scheme).
The Scheme consideration is to be paid in the form of shares in White Rock with each AuStar Gold shareholder receiving 0.78 White Rock shares for each AuStar Gold share held. This implies a price of 43.5 cents per AuStar Gold share on issue and is based on the 1-month VWAP AuStar Gold share price of 27.8cps and the 1-month VWAP White Rock share price of 55.7cps (as at the close of trading on 2 February 2021).
Matthew Gill ’18, MS ’19, was recently named the 2020 Technology Entrepreneur of the Year by the New York Small Business Development Center (NYSBDC) for his work developing virtual reality simulators for education experiences, such as those for school environments and for recruitment into trade disciplines.
Gill is the founder and lead developer of Enhance-VR, a small company headquartered in Binghamton University’s Koffman Southern Tier Incubator that creates content through virtual and augmented reality technology. The company originated from a HackBU skiing simulator project in 2015, and was officially launched in 2017, one year before Gill graduated from the Thomas J. Watson College of Engineering and Applied Science with his bachelor’s degree in electrical engineering. He earned his master’s in the same field in 2019.