Endeavour Mining has announced that its shareholders have voted in favour of the resolution in support of the plan of arrangement pursuant to which Endeavour will indirectly acquire all of the common shares of Teranga Gold Corporation.
Sebastien de Montessus, Endeavour President & CEO, comments:
“We are pleased to have the continued strong support of our shareholders as we take this important step to create a new top 10 senior global gold producer which will offer a very appealing investment proposition.
“The combined entity will boast a high-quality portfolio of mines and projects, sustainable dividends, a healthy balance sheet, strong cash flow generation and an improved capital markets profile.
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“We look forward to closing the transaction and quickly integrating our highly complementary assets to unlock the anticipated material synergies.”
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“With strong shareholder support, Teranga and Endeavour are one step closer to combining to create a best-in-class senior gold producer with our high grade, tier one Sabodala-Massawa operation as its crown jewel and supported by strong production from Wahgnion,” says Teranga, President and CEO, Richard Young.
“It will also have one of the most attractive organic growth pipelines with the addition of Golden Hill and Afema, to Endeavour’s already solid pipeline.
“The Teranga team has done an outstanding job unlocking value on behalf of all of our stakeholders and we look forward to watching the new Endeavour grow.”