Shareholders of Vancouver's Target Exploration and Mining Corp. (TSX-V:TEM) have voted overwhelmingly to merge with Vancouver's Crosshair Exploration & Mining Corp. (TSX:CXX) in an all-share deal worth roughly $2.4 million.
Crosshair has focused its exploration in Labrador, while Target is developing its Bootheel project in Wyoming.
The deal, announced in mid-January, gives Target shareholders 1.2 Crosshair shares for each Target share. It is expected to close by the end of March following court approval.
Crosshair's share price range during the past week: between $0.145 and $0.17; 52-week high: $1.06; 52-week low: $0.085.
Target's share price range during the past week: between $0.145 and $0.175; 52-week high: $0.60; 52-week low: $0.08.