EXPLORATION 1998 — MacDonald wraps up takeover

MacDonald Mines Exploration (MMP.A-A) is set to close a deal whereby it will acquire 96% of the outstanding and issued shares of Golden Hill Mining (GHMC-C), its partner in the Golden Hill gold project in Cuba.

Under terms of the tender agreement, each Golden Hill share can be exchanged for 0.66 of a common share and 0.27 of a share purchase warrant of MacDonald. Mill City Gold Mining (MIY-V), which owned 44.5% of Golden Hill, tendered all of its shares under the offer.