Galleon Gold Corp. completed the acquisition of Explor Resources Inc..
R. David Russell, the current Chief Executive Officer of Pure Nickel will continue as Chief Executive Officer and President of the combined company while Christian Dupont, the current Chairman and Chief Executive Officer of Explor will become Vice President and Chief Operating Officer of the combined company. Completion of the transaction is subject to all necessary shareholder, regulatory approvals and Explor Resources shareholder approval. The transaction must be approved by not less than 66 2/3% of the votes cast by EXS Shareholders. EXS is required to obtain the approval of the TSXV. Pure Nickel is required to obtain TSXV approval. As of September 12, 2019, Pure Nickel obtained conditional TSXV approval. As at October 29, 2019, EXS has received conditional approval from the TSXV. Explor Resources board recommended EXS Shareholders to vote in favour of the transaction. Pure Nickel is not required to obtain shareholder approval in respect of the issuance of up to 95,198,612 Pure Nickel shares to EXS Shareholders in connection with the transaction but it will seek the approval of its shareholders for the transaction. On November 8, 2019, the board of directors of Explor approved the transaction. A special meeting of Explor Resources's shareholders will be held on December 11, 2019. As of December 18, 2019, the transaction received approval from the shareholders of Explor on December 11, 2019 and the transaction is expected to complete in the coming days.
Galleon Gold Corp. (TSXV:GGO) completed the acquisition of Explor Resources Inc. (TSXV:EXS) on December 23, 2019.