Treasury Metals has completed the acquisition of Goldeye Explorations Limited.

The TSX Venture Exchange gave consent to the Plan of Arrangement and the de-listing of Goldeye shares.

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Goldeye shareholders have previously approved the deal. Treasury Metals also secured the final order from Ontario Superior Court of Justice approving the Plan of Arrangement, with a Certificate and Articles of Arrangement also issued by the Ministry of Government Services. 

With this acquisition, Treasury Metals receives a quality asset, the Weebigee Project located in north-western Ontario.

The acquisition is expected to benefit Treasury shareholders, as well as advancement of its flagship Goliath Gold Project to production.

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"Upon closing of the transaction, Goldeye has become a fully owned subsidiary of Treasury."

Upon closing of the transaction, Goldeye has become a fully owned subsidiary of Treasury. All issued and outstanding common shares of Goldeye are acquired by Treasury.

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Under the arrangement, every Goldeye shareholder will receive 0.10 of one common share of Treasury in exchange for each Goldeye share held.

In connection with the closing of the arrangement, Treasury has issued a total of 5.06 million of its shares to the former shareholders of Goldeye. As a result, Treasury has 99.49 million of its shares issued and outstanding, with former Goldeye shareholders holding around 5% on an undiluted basis.

The Goldeye shares are expected to be de-listed from the TSX Venture Exchange from 25 November.

Headquartered in Toronto, Treasury Metals is a gold exploration and development company. It focuses on Goliath Gold Project in north-western Ontario.