Wexford Capital LPacquired a 37.2% stake in Mako Mining Corp., formerly known as Golden Reign Resources Ltd.
Out of the total 105,415,650 shares acquired, 15,500,000 shares were purchased from Marlin Gold Mining Ltd. for C$2.4 million, 14,918,634 shares were distributed to Wexford by Marlin on the basis of about 0.1022 share for each Marlin share and 74,997,016 shares were issued by Mako in exchange for 145,965,387 Marlin shares.
The company said Nov. 9 that the shares were acquired in connection with an arrangement to combine Marlin and Mako.
