MacDonald is a mineral exploration company, while Sage Gold is engaged in mineral exploration and development. Both the companies involved in the transaction are based in Canada.
Under the acquisition, Sage will receive four million units of class A common shares and warrants of MacDonald along with a 1% NSR (net smelter return) royalty.
With a 7.5% a year coupon rate and a five-year term, the debentures can be converted into common shares at a price of $2.69 each.
The company also intends to raise $50m through a private placement of common shares.
As part of the agreement, Cadence will issue 73.75 million ordinary shares worth A$0.464m ($0.356m) to Clancy.
Clancy is engaged in mineral exploration and development.
Canada-based silver mining company SantaCruz Silver Mining has agreed to sell 100% interest in Gavilanes project located in Durango, Mexico, to a gold and silver producer for $3.5m.
The project includes ten mining concessions spread over a total area of 8,832ha.