Coeur Closes Acquisition Of Paramount Gold

(RTTNews) - Paramount Gold and Silver Corp (PZG, PZG.TO) on Friday said the proposals related to the merger agreement with Coeur Mining Inc (CDE) were approved by both companies' stockholders and that the merger has closed.

Immediately prior to the consummation of the merger, Paramount distributed pro rata to its stockholders 8.1 million shares of Paramount's subsidiary, Paramount Gold Nevada Corp ("SpinCo"). SpinCo is expected to begin "regular way" trading on the NYSE MKT on April 20 under the symbol "PZG".

In connection with closing of the merger, about 32.7 million shares of Coeur common stock were issued to Paramount stockholders and about $10 million in cash was contributed to SpinCo, in which Coeur has retained a 4.9% interest.

Paramount's common stock will be delisted from the NYSE MKT and Toronto Stock Exchange. Paramount will no long trade as an independent company after market close today and will be a subsidiary of Coeur.