As the markets become a bit more volatile in recent days, the price of gold has gone up owing to the necessity of safe havens, and hence, gold exploration companies like Sabre Gold Mines Corp. (OTCQB: SGLDF) are in focus. As a matter of fact, the company was in the news cycle last Friday after it came up with a key update.
The Update
The company provided an update with regards to the closure of the proposed transaction with Minera Alamos Inc., which had been announced on January 14, 2024. In the news release, the company announced that as per the terms of the agreement, Minera would acquire all the issued and outstanding shares in Sabre Gold Mines Corp. The share exchange will take place at the rate of 0.69 shares in Minera for each common share in Sabre Gold Mines Corp.
Further Details
It was further noted that the Plan of Arrangement had been expected to come into effect on January 27, 2025. However, following a delay in getting the order from the Ontario Superior Court of Justice, the deadline for the same was changed to February 5, 2025. Investors could do well to keep an eye on the Sabre Gold Mines Corp. stock today.
