Golden Predator Mines Inc. (TSX:GP) and Fury Explorations Ltd. (TSX-V:FUR) have signed a merger agreement.
The merger of the two Vancouver companies will give Golden Predator ownership of Fury's Nevada-based silver project, which is expected to start production in early 2009. The company focuses on gold and tungsten mineral development in the U.S. northwest.
As part of the deal, Fury shareholders will receive a third of a Golden Predator share for each Fury share, which values the deal at approximately $19.8 million.
Fury's shareholders are expected to vote on the deal August 8 at a special meeting.
Golden Predator's share price range during the past week: between $1.68 and $1.80; 52-week high: $2.74; 52-week low: $1.65.
Fury Exploration's share price range during the past week: between $0.52 and $0.57; 52-week high: $0.99; 52-week low: $0.46.