trending Market Intelligence /marketintelligence/en/news-insights/trending/WujnK8ihWSYKCzwtOl7MWQ2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Aurvista to acquire remaining stake in Douay West gold zone in Quebec


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


COVID-19 Impact & Recovery: Metals and Mining Outlook for H2 2021


Q&A: Data That Delivers - Automating the Credit Risk Workflow


Mining M&A in 2020 — Deal activity bounces back in H2 after disrupted H1

Aurvista to acquire remaining stake in Douay West gold zone in Quebec

Aurvista Gold Corp. exercised an option to acquire the remaining 10% interest in Douay West zone in Quebec, from Société d'Exploration Minière Vior Inc. for C$12,500, Aurvista said March 29.

As a result, Aurvista increased its 100%-owned land package to 247 contiguous claims totaling 128.8 square kilometers, forming part of the Douay gold project, and holds a 75% interest in 32 additional claims totaling 11.9 square kilometers in the Douay Northwest zone.

SOQUEM Inc. holds the remaining 25% interest in the Douay Northwest zone.

Additionally, the company noted that Vior now owns 6,710,442 Aurvista shares and 800,000 warrants to acquire shares, representing 5.6% of Aurvista's outstanding common shares on a partially diluted basis.

Vior recently completed a special dividend, distributing 13,796,795 Aurvista shares to Vior shareholders.

With Vior's ownership interest in Aurvista falling below 10%, a 2011 shareholders' agreement between the companies will cease to be in effect, Aurvista said.

Consequently, Vior's pre-emptive right to maintain its ownership percentage through participation in future Aurvista share offerings no longer remains in effect.