White Rock Minerals Ltd (ASX:WRM, OTCQX:WRMCF) and AuStar Gold Ltd have implemented the share scheme of arrangement and option scheme of arrangement that cements the merger between the two entities.
This moves White Rock into the league of gold producers and secures a large 670 square kilometre, under-explored land package with historic high-grade gold production in the highly prospective Victorian goldfields.
Consideration for schemes
All AuStar Gold shares have today been transferred to White Rock and all AuStar Gold listed options have been cancelled.
Eligible AuStar Gold shareholders have been issued consideration of 0.78 new shares in White Rock for every 1 AuStar Gold share held at 7.00pm (AEST) on the record date of Monday, August 16, 2021.
Eligible AuStar Gold listed option holders have been issued consideration of one new White Rock option exercisable at $0.77 and otherwise on substantially the same terms as the terms of the AuStar Gold listed options, for every one AuStar Gold listed option held at the record date.
Delisting
Trading in AuStar Gold shares and listed options on the ASX was suspended from the close of trading on Thursday, August 12.
An application will be made to remove AuStar Gold from the official list of ASX, which is expected to take effect on and from August 24.