Vancouver's Fury Explorations Ltd. (TSX-V:FUR) and Energy Metals Corp.'s Golden Predator Mines Inc. subsidiary intend to merge in a deal estimated at $72.8 million.
Assets of the two companies include the Springer Tungsten mine in Nevada, 10 tungsten exploration projects in Nevada and Montana and 20 gold exploration projects in Nevada, Wyoming, California and Oregon.
Under a December 21, 2007, letter of intent, Fury will issue 2.5 common shares for each Golden Predator share.
After the deal's completion, Fury shareholders will own roughly 21% of the new company; Golden Predator shareholders will own the remaining 79%.
Fury's share price during the past week: $0.76; 52-week high: $1.21; 52-week low: $0.46.