03:45 PM EST - Medoro Resources Ltd. : has executed a binding Arrangement Agreement with Colombia Goldfields to acquire all of the issued and outstanding shares of Colombia Goldfields in exchange for common shares and warrants of Medoro. Under the proposed arrangement, which is subject to regulatory approval and stockholder approval by Colombia Goldfields, Medoro will issue 29.27 million shares and 940,720 warrants to the stockholders of Colombia Goldfields in exchange for the 104.52 million outstanding shares of Colombia Goldfields. Each full warrant is exercisable into one Medoro common share at a subscription price of $0.50 per Medoro common share for a term of two years. On completion of the proposed arrangement Colombia Goldfields' stockholders will own about 25 per cent of Medoro based upon Medoro's issued and outstanding shares as of June 8. Medoro Resources Ltd.
shares V.MRS are trading down $0.02 at $0.15.
