C$184m Acquisition of PMI Gold by Plan of Arrangement
In December 2013, Asanko announced the acquisition via Canadian plan of arrangement of PMI Gold Corporation for C$184 million, to create an emerging mid-tier West African gold producer with a clear pathway to 400,000 ounces of annual gold production. The purchase price was calculated on the basis of an exchange ratio of 0.21 Asanko common shares for each PMI common share. The transaction was successfully completed in February 2014.
Azure acted as joint financial adviser to Asanko in relation to the transaction.