Shareholders back Oceanagold, Romarco deal

THE majority of shareholders of both companies have approved the takeover of Romarco by Oceanagold.

OCEANAGOLD'S takeover of Toronto Stock Exchange-listed Romarco Minerals has been approved by shareholders of both companies, in a move expected to create the market's lowest-cost gold producer.

THE resolution to approve the arrangement was passed by nearly 80 per cent of Romarco shareholders votes and 99 per cent of Oceanagold shareholder votes. The takeover is expected to be completed by October 1.