Golden Reign Resources (TSXV: GRR; US-OTC: GRGNF) and Marlin Gold Mining (TSXV: MLN; US-OTC: MLNZF) have merged to form Mako Mining, which will begin trading on the TSX Venture Exchange, under the symbol ‘MKO’, on Nov. 14, 2018.
Under the terms of the deal, Golden Reign acquires all of Marlin’s shares at a rate of 0.51 Golden Reign shares for each Marlin share.
Mako will focus on Golden Reign’s San Albino gold deposit in northern Nicaragua and Marlin’s producing La Trinidad gold mine in Sinaloa, Mexico. Prior to the merger, Marlin sold its Commonwealth silver-gold property in Cochise County, Arizona, to Wexford Capital LP, its largest shareholder.
Golden Reign also restructured its San Albino gold stream agreement with Sailfish Royalty (TSXV: FISH; US-OTC: SROYF), which Marlin spun out in 2017. The new agreement includes a 3% net smelter returns royalty (NSR) to an area of interest on San Albino, and a 2% NSR on the rest of San Albino, minus the El Jicaro concession.
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