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Royal Road Minerals buys Caza Gold Corp

Wednesday, March 1, 2017 7:34
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Precious metals explorer Royal Road Minerals Ltd (CVE:RYR) revealed it had successfully bought Caza Gold Corp (CVE:CZY), after it now holds around 90% of the capital.

In January the group made an offer to buy Caza Gold Corp (CVE:CZY) in an all-share deal.

Caza controls a large land position in the highly prospective but largely undeveloped gold belts of Nicaragua – the properties are the Los Andres district, Piedra Iman, Las Lajas, Cerro Pedernal, El Diamente,  Teustepe and Cerro La Vaca.

Royal Roads president and chief executive Dr Tim Coughlin said: “We are pleased that Caza’s shareholders have accepted the offer, and we welcome them as Royal Road Minerals shareholders and as participants in our exciting growth strategy, which includes plans to advance the exploration of Caza’s key Nicaraguan properties, to continue our exploration work in the highly prospective province of Nariño in southern Colombia and to advance other initiatives elsewhere throughout Latin America.”

The offer was made at 0.16 of a Royal Road share and  atotal of 134.8mln Caza shares, or 90% of the Caza capital  deposited under the offer as  at 11:59 p.m. (Pacific Time) on February 27, 2017 – the expiry time of the initial deposit period.

Due to the substantial support, Royal Road Minerals has also extended the deposit period under the offer for 10 days.

Story by ProactiveInvestors


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