Westgold Resources (ASX:WGX) has begun trading shares on the Toronto Stock Exchange (TSX) under the ticker WGX after completing its merger with Karora Resources.
The TSX — part of TMX Group (TSX:X) — is headquartered in Toronto, Ontario, and is the 10th largest exchange in the world, and the third largest in North America.
Shares in Karora were de-listed from the TSX on 2 August, and Westgold has applied for Karora to cease being a reporting issuer under Canadian securities law.
According to the terms of the merger, Karora shareholders were offered 2.524 Westgold shares, $0.68 cash, and 0.3 of a share in a new spin-out company, Culico Metals, for each Karora share held.
Westgold CEO Wayne Bramwell says the merger created an ASX- and TSX-listed mid-tier gold producer with international appeal.
“The TSX:WGX listing provides increased liquidity and brings a (more than) 400,000 ounce producer to a…
