US Gold Corporation TSX:UXG and Minera Andes Inc TSX:MAI announced that shareholders of both companies voted in favour of the acquisition of Minera Andes by US Gold. The business combination resolution was approved by 89% of the votes cast by Minera Andes shareholders and 94% of the votes cast by US Gold shareholders. Upon acquisition Minera Andes will be renamed McEwen Mining Inc and will trade under the stock symbol TSX:MUX. The closing of the transaction is conditional on receipt of a final order from the Court of Queen’s Bench of Alberta, which is expected shortly.
US Gold CEO Rob McEwen stated, “I am thrilled that the proposed merger was overwhelmingly favoured by shareholders of Minera Andes and US Gold! This brings us one step closer to qualifying for the S&P 500. We look forward to future growth and prosperity this combination creates.” McEwen is the largest shareholder in both companies.
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US Gold Corporation / Minera Andes Inc
by Ted Niles