Integra Resources announced it will buy Florida Canyon Gold, creating Great Basin-focused gold and silver producer.
The merged company will have immediate gold production of 70 000 oz of gold-equivalent a year from the Florida Canyon gold mine, coupled with a built-in growth pipeline of development stage assets, including the DeLaMar and Nevada North projects.
Under the terms of the transaction, shareholders in TSX-V-listed Florida Canyon Gold will receive 0.467 of a common share of Integra for each share held. The exchange ratio implies a consideration of C$0.69 a share for a total consideration of C$95-million.