HomeGoldEndeavour receives final approvals for Teranga transaction

Endeavour receives final approvals for Teranga transaction

Endeavour Mining has received all of the regulatory approvals required for its acquisition of Teranga Gold Corporation.

As such, Endeavour expects to close the acquisition on or around February 8, 2021.

Endeavour received written confirmation from the Minister of Innovation, Science and Industry stating that the acquisition has been approved under the Investment Canada Act, thereby satisfying the applicable condition in the Arrangement Agreement.

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In addition, Teranga received the final order from the Ontario Superior Court on January 29, 2021, approving the plan of arrangement.

The previously announced La Mancha investment of US$200 million is expected to close during the quarter. The investment will be made at the previously set price of C$29.36 per share, which represents an 8% premium to yesterday’s closing price.