On January 12, 2022, Calibre Mining Corp. closed its acquisition of all of the issued and outstanding common shares of Fiore Gold Ltd. pursuant to a court-approved plan of arrangement, for approximately US$151 million. Fiore shareholders received 0.994 of a Calibre common share and $0.10 in cash for each Fiore common share held. Calibre issued an aggregate of 101,321,923 common shares and made an aggregate cash payment of approximately $10.2 million. Upon closing of the arrangement, existing Calibre and former Fiore shareholders own approximately 77% and 23% of the issued and outstanding Calibre shares, respectively.
Pursuant to the transaction, Calibre acquired a 100% interest in Fiore’s operating Pan Gold Mine, adjacent advanced-stage Gold Rock Project and the past producing Illipah Gold Project in Nevada, as well as the Golden Eagle project in Washington State.
Cassels acted for Calibre.