VANCOUVER – Fronteer Gold and AuEx Ventures have completed the friendly acquisition of AuEx by Fronteer. Over 99.95% of AuEx shareholders approved the deal. Each of them will receive 0.645 of a Fronteer share for each AuEx share held. Fronteer has issued 29.8 million common shares pursuant to the arrangement.
“We have consolidated ownership of our flagship Long Canyon asset and created a dominant position in the Pequops, Nevada’s newest gold trend,” says Mark O’Dea, Fronteer president and CEO. “Long Canyon is a unique, high quality gold project and Fronteer Gold will continue to aggressively grow the resource while advancing the project toward production. We remain well funded to develop our exciting suite of gold projects. We welcome AuEx shareholders as shareholders of Fronteer Gold, and look forward to our continued relationship with the AuEx team as a shareholder of Renaissance Gold.”
Fronteer is exploring the Loomis, Northumberland and Sandman gold properties in Nevada as well as Long Canyon. Besides its interest in the Long Canyon project, AuEx owned gold projects at Hays Canyon, Pasco Canyon, Pequop South, Reef, Sinter, Southwest Trinity, West Pequop (51%) and Wood Hills South (70% optioned) and the Trinity silver property in Nevada.
Visit www.FronteerGold.com for more information on other projects owned by Fronteer.