The latest announcement is out from Pasofino Gold ( (TSE:VEIN) ).
Pasofino Gold Limited has alerted its shareholders to an indirect take-over bid by Nioko Resources Corporation, which has acquired control of Hummingbird Resources PLC. This acquisition has triggered a flip-in event under Pasofino’s shareholder rights plan, allowing shareholders to acquire additional shares at a discounted rate. The company is taking steps to protect its interests and is in discussions with the TSX Venture Exchange to list these rights for trading. Additionally, changes in the board of directors are anticipated as Hummingbird seeks to replace two members with its own nominees.
More about Pasofino Gold
Pasofino Gold Limited operates in the mining industry, focusing on gold exploration and development. The company is involved in projects such as the Dugbe Gold Project and is listed on various stock exchanges including TSXV, OTCQB, and FSE.
YTD Price Performance: -15.54%
Average Trading Volume: 1,457
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $36.49M
Find detailed analytics on VEIN stock on TipRanks’ Stock Analysis page.