Canadian Gold Hunter has closed its previously announced acquisition of Sanu Resources, which will now operate as a wholly-owned subsidiary.

The agreement, which has received all necessary regulatory and court approvals, sees Canadian Gold has acquired all of Sanu’s issued and outstanding shares on the basis of 0.5725 shares of Canadian Gold for one Sanu share.

The transaction represents a pooling of the expertise of two well-regarded exploration companies and provides a platform for entry into all major regions, Canadian Gold president and CEO Wojtek Wodzicki said.

“The combined entity will move forward as a more powerful and relevant company with a significantly enhanced profile in the market place,” Wodzicki said.