Juniors Adonos Resources (TSE) and Bellex Mining (VSE) have agreed conditionally to an amalgamation of the companies, subject to shareholder and regulatory approval.
The name of the amalgamated company would be ADEX Mining. Proposed is that each Bellex share would be exchangeable for one share of ADEX and each Adonos share would be exchangeable for 4.33 shares of ADEX. Gary Schellenberg would serve as president of ADEX.
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