Gold Bull Resources’ Shareholders Approve Plan of Arrangement with Borealis Mining
VANCOUVER, British Columbia, March 06, 2025 – In a significant development for the mining industry, Gold Bull Resources Corp. (TSXV: GBRC) (“Gold Bull”) announced on February 28, 2025, that its shareholders approved the plan of arrangement (the “Arrangement”) with Borealis Mining Company Limited (“Borealis”). This arrangement marks an exciting new chapter for both Gold Bull and Borealis as they join forces to explore and develop mineral resources.
What Happened at the Annual General and Special Meeting?
The Arrangement was approved by a strong majority of Gold Bull’s shareholders at the annual general and special meeting held on February 28, 2025. The Arrangement includes Borealis acquiring all of the issued and outstanding common shares of Gold Bull. With this acquisition, Borealis will gain access to Gold Bull’s highly prospective mineral projects in Quebec, Canada.
Impact on Gold Bull Shareholders
Gold Bull shareholders will receive 0.15 of a Borealis common share for each Gold Bull common share they hold. This represents a premium of approximately 58% based on the 20-day volume-weighted average price of the Gold Bull shares as of February 26, 2025, and a premium of approximately 153% based on the closing price of the Gold Bull shares on February 28, 2025. The transaction is expected to close on or about March 15, 2025, subject to customary closing conditions.
Implications for the Mining Industry and the World
The Arrangement between Gold Bull and Borealis signifies a strategic move that is expected to bring significant benefits to both companies. This merger will create a stronger entity with a broader portfolio of mineral projects and increased financial resources to explore and develop these projects.
Moreover, this arrangement adds to the growing trend of consolidation in the mining industry. With the increasing costs of exploration and development, smaller companies are finding it challenging to compete independently. Mergers and acquisitions provide a viable solution, allowing companies to pool their resources, share risks, and expand their reach.
Conclusion
Gold Bull Resources Corp.’s announcement of the approval of the Arrangement with Borealis Mining Company Limited marks an exciting new chapter for both companies. This merger is expected to bring significant benefits to Gold Bull shareholders, while also contributing to the ongoing consolidation trend in the mining industry. The combined entity will have a broader portfolio of mineral projects and increased financial resources to explore and develop these projects, ultimately benefiting the mining industry and the world as a whole.
- Gold Bull Resources Corp. (TSXV: GBRC) shareholders approved the plan of arrangement with Borealis Mining Company Limited.
- The Arrangement includes Borealis acquiring all of the issued and outstanding common shares of Gold Bull.
- Gold Bull shareholders will receive 0.15 of a Borealis common share for each Gold Bull common share they hold.
- The Arrangement is expected to close on or about March 15, 2025.
- The merger is a strategic move that will bring significant benefits to both companies and add to the consolidation trend in the mining industry.
