Aquila Resources Inc. (OTCMKTS:AQARF) was up 4.5% after the company and Gold Resources Corporation (NYSEAMERICAN: GORO) announced the completion of the previously revealed statutory plan as per the Ontario Business Corporations Act for the acquisition of od all issued and outstanding Aquila shares by Gold Resources through a wholly-owned indirect subsidiary Gold Resources Acquisition Sub Inc.
Trading Data
On Friday, AQARF stock ended higher by 4.54% to $0.0691 with 11k shares, compared to its average volume of 82k shares. The stock has moved within a range of $0.0608 – 0.0691 after opening trade at $0.0608.
Gold Resource Corporation Completes Acquisition of Aquila Resources Inc.
The transaction received approval from Aquila shareholders on November 17, 2021, as well as from the Ontario Superior Court of Justice two days later.
According to the terms of the transaction, each Aquila shareholder will receive 0.0399 of Gold Resource share for each Aquila share they hold. Notably, the share exchange represents a ratio consideration of CD$0.09 for each Aquila share based on the closing prices of the shares as of September 3, 2021, which was the last day of trading before the companies announced the transaction. Additionally, Gold Resource acquired all outstanding restricted and deferred share units of Aquila for around CD$09.95 million. So in the coming weeks, AQARF is worth watching.
Technical Data
AQARF stock is trading in the neutral zone as RSI stands at 43. RSTN stock is trading below the 20-Day and 50-Day Moving averages of $0.0783 and $0.0710 respectively. The stock is up 14% in the past month.
