Core Gold shareholders vote to approve a $72 million buyout offer from Titan Mineral. Titan will acquire all of Core Gold's assets, including its Dynasty Goldfield mine in Ecuador (pictured above). Photo courtesy of Core Gold

On Wednesday, Core Gold’s shareholders voted in favour of a share-for-share transaction between the company and Australian-based Titan Minerals. The deal would see Core Gold and Titan merge, with Titan remaining the group parent company by way of share exchange.

Titan will acquire all of Core Gold’s 9.1 million issued and outstanding shares at a price of $0.44 per share, Core Gold shareholders would receive 20 fully paid shares in Titan pre-consolidation for every 1 share of Core Gold. The deal is valued at around $72 million.