Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) ("Leagold" or the "Company") announced that on it completed its acquisition of Brio Gold Inc. (TSX:BRIO) ("Brio") and has acquired all of the issued and outstanding shares of Brio (the "Brio Shares") pursuant to the terms of an Arrangement Agreement entered into between Leagold and Brio on 15 February 2018 (the "Arrangement").
Pursuant to the Arrangement, Leagold acquired 117,556,100 Brio Shares, representing 100% of the issued and outstanding Brio Shares by way of a court approved plan of arrangement carried out under the provisions of section 182 of the Business Corporations Act (Ontario).
Prior to the Arrangement, Leagold owned no Brio Shares, and accordingly, the acquisition represents an increase in Leagold's ownership from nil to 100% of the issued and outstanding Brio Shares following completion of the Arrangement.
