VANCOUVER — Integra Gold
(TSXV: ICG; US-OTC: ICGQF) is making a $6-million strategic equity investment for a 9.9% stake in Quebec focused gold explorer Eastmain Resources
(TSX: ER), and is shaking up Eastmain’s management team.
The move effectively ends a brewing proxy battle between Eastmain and its disgruntled shareholder Columbus Gold
(TSX: CGT; US-OTC: CBGDF), which had been trying to place five new directors to Eastmain’s board after picking up 2.7 million Eastmain shares in early April. Columbus argued that Eastmain had lost sight of how to unlock value at its Clearwater gold property, 200 km east of James Bay, QC.
As part of the latest transaction, Integra’s president and CEO Stephen de Jong, and chairman George Salamis, will be appointed to Eastmain’s new slate of directors, whereas Donald J. Robinson, Eastmain’s president and CEO, will step down and serve as company advisor.
Read the entire story at www.NorthernMiner.com/news/integra-eastmain