The mining companies Argonaut Gold and Alio Gold merged after obtaining approval from Mexico’s Federal Commission on Economic Competition (Cofece) and other competition regulators.
On June 22, both companies reported that they received authorization from Cofece to merge.
Following this, last Wednesday, the two companies reported that they completed the business combination to create a diversified North American precious metals production company with a solid portfolio of assets.
“By combining Argonaut with Alio, we have created a diversified and intermediate gold producer with four producing mines, an enviable growth asset portfolio and a larger scale of capital markets. On behalf of the entire Argonaut Gold team, I would like to personally welcome Ms. Paula Rogers and Mr. Stephen Lang to the Board of Directors, “said Pete Dougherty, President and CEO of Argonaut Gold, in a statement.
Argonaut common stock will continue to be listed on the Toronto Stock Exchange unchanged.
Alio’s shares are expected to stop trading on the New York Stock Exchange on July 1, 2020 and to be withdrawn from the Toronto Stock Exchange after the close of business on July 3, 2020.
Argonaut Gold is a Canadian gold mining company dedicated to exploration, development and production. Its main assets are the El Castillo mine and the San Agustín mine, which together form the El Castillo complex in Durango, Mexico, and the La Colorada mine, in Sonora, Mexico.
Advanced exploration projects include the Cerro del Gallo project in Guanajuato, Mexico, and the Magino project in Ontario, Canada.
The company continues to maintain the advanced San Antonio exploration project in Baja California Sur, Mexico, and several exploration stage projects, all of which are located in North America.
For its part, Alio Gold is a gold mining company. It is focused on the safe and profitable production of gold from its core asset, the 100% -owned Florida Canyon mine in Nevada, United States. The company also owns the development stage of the Ana Paula project in Guerrero, Mexico.