TORONTO, Ontario Shareholders of BLACKHAWK MINING have approved the proposed amalgamation with GLENCAIRN GOLD CORP. The transaction is expected to close this week.
Under the terms of the proposed combination, Glencairn will issue one share of Glencairn for every three shares of Black Hawk. The combined company will operate under the name Glencairn Gold Corporation and the current officers of Glencairn will continue as the management of the combined entity.
Glencairn is developing the Bellavista gold mine in Costa Rica for production in 2004. Blackhawk’s major asset is its El Limon gold mine in Nicaragua. The companies maintain their web sites at www.glencairngold.com and www.bhkmining.com, respectively.