Legend Gold shareholders have approved the the proposed plan of arrangement for its acquisition by Altus Strategies announced on 21 Nov.
Altus said Legend intended to seek the approval of the Supreme Court of British Columbia to the arrangement and the final order on 23 Jan, and subject to court approval, the parties intended to proceed to closing the arrangement on or about 25 Jan.
Altus chief executive Steven Poulton said: 'The approval of Legend's shareholders for the proposed plan of arrangement is a transformational and accretive milestone for both Legend and Altus.
'The enlarged project generator company will offer shareholders direct exposure to a robust and well managed portfolio of nineteen projects at different stages of advancement, diversified by six commodities, across five countries and with two active joint venture partnerships.
'We believe the project generator model represents an optimal strategy for investors to participate in the potentially significant returns that can be made from making economic mineral discoveries, while mitigating a number of the potential financial, technical, managerial or geopolitical risks that can impact explorers that are heavily focused on just one or two assets.
'The application and other preparations required for a dual listing of our shares on the TSX-V is now underway and we will provide an update on this process in due course.
'In the meantime we look forward to the successful closing of the transaction and to welcoming Legend's shareholders and team to Altus.'
At 9:39am: (LON:ALS) Altus Strategies Plc Ord 1p share price was +0.25p at 8p