Karora Resources (TSE:KRR) has released an update.
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Karora Resources Inc. has received a recommendation from Glass Lewis, a second major independent proxy advisory firm, for its shareholders to approve a strategic arrangement with Westgold Resources. This endorsement follows a similar recommendation from Institutional Shareholder Services and pertains to a proposed exchange where Karora shareholders will receive cash and shares in Westgold, alongside a spin-off of certain Karora assets to a new entity. The arrangement aims to consolidate Karora’s and Westgold’s resources, offering shareholders a stake in a potentially stronger, combined entity.
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