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FNX, Quadra shareholders approve merger

Shareholders for Sudbury miner FNX Mining Company and British Columbia-based Quadra Mining Ltd. voted to approve a merger to create what will be known as Quadra FNX Mining Ltd. Quadra shareholders approved the deal with a 97.
Northern Ontario Business Staff

Shareholders for Sudbury miner FNX Mining Company and British Columbia-based Quadra Mining Ltd. voted to approve a merger to create what will be known as Quadra FNX Mining Ltd.

Quadra shareholders approved the deal with a 97.2 vote in favor, while FNX shareholders approved with a 96.8 per cent vote.

Under the terms of the deal, each share of FNX will be exchanged for 0.87 shares of Quadra and $0.0001. Court approval will be sought on May 20, with the transaction expected to close the following day.