Business
Golden Reign Resources and Marlin Gold Mining Complete Business Combination to Form Mako Mining Corp.
Golden Reign Resources and Marlin Gold Mining Complete Business Combination to Form Mako M...
About this update from Mako Mining Corp.
[{"type":"text","content":"\n\n\n\nGolden Reign Resources and Marlin Gold Mining Complete Business Combination to Form Mako Mining Corp.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 9, 2018\n\n\n\nVANCOUVER, Nov. 9, 2018 /CNW/ - Mako Mining Corp. (formerly Golden Reign Resources) (the \"Company\" or \"Mako Mining\") (TSX-V:GRR) and Marlin Gold Mining Ltd. (\"Marlin\") (TSX-V:MLN) are pleased to announce the successful completion of the previously announced business combination transaction of the two companies pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the \"Arrangement\"), whereby the Company acquired all of the issued and outstanding common shares of Marlin (the \"Marlin Shares\"). Prior to the closing of the Arrangement, the parties completed the previously announced amendment to the Company's Gold Purchase Agreement with Sailfish Royalty Corp. and the Marlin Reorganization, including the sale of Marlin's Commonwealth Project to funds controlled by Wexford Capital LP, Marlin's controlling shareholder, which extinguished all of Marlin's loans and any other debts and liabilities owing to Wexford.\n\n \n \n\n \n\"As a result of the Arrangement, shareholders of Mako Mining will benefit from the producing La Trinidad Gold Mine in Mexico, cash in the bank and no debt, and an unencumbered, fully permitted, high grade gold development asset in Northern Nicaragua\" stated Kevin Bullock, CEO of Mako Mining.  He went on to say \"having now amended the previous Gold Purchase Agreement with Sailfish, Mako Mining shareholders will also benefit from building a fully permitted, unencumbered asset with security and provisions commensurate with a standard, third-party NSR agreement.\" \nShareholders of Marlin approved the Arrangement on October 30, 2018, and shareholders of the Company approved the issuance of common shares of the Company pursuant to the Arrangement (the \"Company Shares\") on the same date. The Supreme Court of British Columbia issued the final order approving the Arrangement on November 1, 2018.\nEffective...