Pasofino Securityholders Approve C$0.90 Cash Acquisition by Mansa Resources
EFRGF has more than doubled off its 52-week low of $0.257.
Summary
Pasofino Gold Limited securityholders have overwhelmingly approved the statutory plan of arrangement for Mansa Resources Limited to acquire all outstanding common shares not already owned by Mansa for C$0.90 in cash per share. This approval is a critical milestone in the previously announced acquisition, providing a significant premium over the current stock price and a clear exit for remaining shareholders. The arrangement now awaits final approval from the Supreme Court of British Columbia, with a hearing expected during the week of April 7, 2026. Upon completion, Pasofino's shares are expected to be delisted from the TSX Venture Exchange, and the company will cease to be a reporting issuer.
At the time of this announcement, EFRGF was trading at $0.63 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $96.1M. The 52-week trading range was $0.26 to $0.83. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.