July 21, 2010 — Canadian mining giant Eldorado Gold has completed its acquisition of Brazilian company Brazauro Resources after approvals from Brazauro shareholders and the British Columbia Supreme Court.
Eldorado acquired all remaining common shared of Eldorado in exchange for 0.0675 of a common share of Eldorado, plus one third of a common share of TriStar Gold Inc., a new exploration company incorporated to hold certain Brazauro assets. TriStar shares are expected to begin trading today on the TSX Venture Exchange.
Brazauro securityholders approved the purchase on July 15, 2010, which the deal gaining Canadian court approval the next day.
According to Eldorado, “the transaction combines Eldorado’s strength and experience in successful gold production with Brazauro’s promising Tocantinzhinho Project in Tapajos, Brazil, and two exploration projects, Agua Branca and Piranhas.”
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