Calibre Mining completes Fiore Gold acquisition

Calibre Mining Corp. [CXB-TSX; CXBMF-OTCQX] and Fiore Gold Ltd. [F-TSXV; FIOGF-OTCQB] have successfully completed the previously announced transaction pursuant to which, among other things, Calibre acquired all of the issued and outstanding common shares of Fiore pursuant to a court-approved plan of arrangement.

Pursuant to the arrangement, former Fiore shareholders received 0.994 of a Calibre common share and a cash payment of 10 cents in exchange for each Fiore share held. As a result of the arrangement, Calibre issued an aggregate of 101,321,923 Calibre shares and made an aggregate cash payment of approximately $10.2-million. Upon closing of the arrangement, existing Calibre and former Fiore shareholders own approximately 77% and 23% of the issued and outstanding Calibre shares, respectively.

As a result of the arrangement, Calibre acquired a 100% interest in Fiore’s operating Pan gold mine, adjacent advanced-stage Gold Rock project and the past-producing Illipah gold project in Nevada, as well as the Golden Eagle project in Washington State.

Calibre intends to cause Fiore to delist the Fiore shares from the TSX Venture Exchange, to submit an application to cease to be a reporting issuer and to otherwise terminate its public company reporting requirements as soon as possible thereafter. The Calibre shares issued under the arrangement are expected to be listed and posted for trading on the Toronto Stock Exchange.

Calibre is a Canadian-listed, Americas-focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the United States, and Nicaragua.