The plan is expected to close this week and the company’s shares will be delisted from the TSXV if certain customary conditions are met.
Gowest shares traded for C$0.15 apiece on Monday morning in Toronto, valuing the company at C$100.6 million. Its shares have traded in a 52-week range of C$0.04 to C$0.15.
CEO Dan Gagnon said in June the transaction will help investors who have been the company’s main source of capital to bear the continuing risks of exploration and financing.
The move to go private comes amid challenges Gowest has faced in recent years in raising enough capital to develop the prefeasibility-stage Bradshaw deposit in its larger North Timmins project.
It also coincides with some Canadian junior companies expressing frustration with the federal government for stymieing foreign investment in critical minerals in name of national security.
Last week, Solaris Resources (TSX: SLS; NYSE: SLSR) said it was relocating…
