Financial Wire

Robex Resources Completes Its C$1.98-Billlion Sale to Australia's Predictive Discovery

-- Robex Resources (RBX.V) on Thursday said it completed its sale to Australia-listed Predictive Discovery (ASX: PDI) for shares worth C$1.98-billion.

The deal aims to "create a leading West African gold production and development company, targeting production of more than 400,000 ounces of gold per annum by 2029," the companies said it a joint release.

Under the transaction, Predictive Discovery acquired all Robex shares, with shareholders receiving 7.862 PDI shares for each Robex share. Robex will be delisted from the TSX Venture Exchange by April 20, while PDI will remain listed on the ASX and is set to begin trading on the Toronto Stock Exchange in April, according to the statement.

Robex shares closed unchanged at $7.11 on the Toronto Stock Exchange.

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