Calibre Mining completes Fiore, Pan Gold mine acquisition

Canadian-based Calibre Mining has confirmed the completion of its takeover of Fiore Gold and the operating Pan gold mine in Nevada.

Under the transaction arrangement, former Fiore shareholders received 0.994 of a Calibre common share and a cash payment of C$0.10 in exchange for each share held. In aggregate, Calibre issued 101,321,923 Calibre shares and made a cash payment of approximately C$10.2 million. 

Existing Calibre and former Fiore shareholders now own approximately 77% and 23% of issued and outstanding Calibre shares, respectively.

Calibre now also holds a 100% interest in Fiore’s operating Pan gold mine, the adjacent advanced-stage Gold Rock project and the past producing Illipah gold project in Nevada, as well as the Golden Eagle project in Washington.

In addition to the U.S West, mid-tier miner Calibre also has development opportunities in Nicaragua.

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