Prime Mining Corp. Merges with Torex Gold in Q4 2025
Prime Mining Corp., based in Vancouver, has received a significant boost with a final order from the Supreme Court of British Columbia. The company, managed by a seasoned team of mining executives, is set to merge with Torex Gold Resources Inc. under a plan of arrangement. The deal, expected to close in Q4 2025, is subject to certain approvals and conditions.
Under the arrangement, each Prime Mining Corp. shareholder will receive 0.060 of a common share of Torex for each Prime share held. Following the merger, Prime shares are expected to be delisted from the Toronto Stock Exchange, the OTCQX, and the Frankfurt Stock Exchange. Prime will also apply to cease being a reporting issuer under applicable Canadian securities laws.
The management team of Prime Mining Corp., including CEO Scott Hicks and Director Andrew Bowering, has been instrumental in fully developing the Los Reyes project. Scott Smith serves as Executive Vice President of Exploration, while Ian Harcus is the CFO. Indi Gopinathan is the VP of Capital Markets & Business Development. The team's expertise and strong capital structure have been key to the company's success.
The arrangement between Prime Mining Corp. and Torex Gold Resources Inc. is set to strengthen both companies' positions in the mining sector. Shareholders of Prime stand to benefit from the exchange ratio, and the delisting of Prime shares is expected to follow the successful completion of the deal.
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