Shareholders have voted to approve Eldorado Gold Corp.’s ELD-T deal to acquire Foran Mining Corp. FOM-T valued at $3.8-billion when it was announced in February.
Eldorado says its shareholders voted 84.2 per cent in favour of the deal.
Meanwhile, Foran says its securityholders voted 83.4 per cent to approve the agreement.
Eldorado chief executive George Burns says the acquisition of Foran’s McIlvenna Bay project in Saskatchewan adds a high-quality, long-life Canadian asset that complements the company’s operations and strengthens its position as a growth-oriented gold and copper producer.
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The deal is still subject to final court approval and other customary closing conditions. A B.C. Supreme Court hearing to approve the agreement is set to take place on Thursday.
Eldorado expects the deal to close on or about April 14.