Canadian gold miner, Gran Colombia Gold, will merge with Medoro Resources to form a new Colombia-focused gold production and exploration company. Upon completion of the deal, Gran Colombian and Medoro shareholders will each own around 50% of the combined company. Gran Colombia appointed GMP Securities as its financial adviser on the deal, while Medoro was advised Fraser Mackenzie. Medoro and Gran Colombia have also agreed not to solicit any alternative transactions and to pay the other a break fee of $12 million in certain circumstances.
Click here for the release from PR Newswire.