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(RTTNews) – Capital Gold Corp. (CGC; CGC.TO) said Friday it entered into an amendment to its merger agreement with Gammon Gold Inc. (GAM.TO: News ), which increases the cash component of the merger consideration payable to Capital Gold shareholders by US$0.30, from US$0.79 to US$1.09.


Earlier this week, Gammon had proposed a final offer and increased the cash component of its merger consideration for Capital Gold by US$0.30 per share to US$1.09. Following the amendment, Capital Gold’s shareholders will receive 0.5209 Gammon shares and US$1.09 in cash for each share of Capital Gold common stock held.


Capital Gold also said it convened a special meeting of stockholders on Friday. Based on preliminary information from its proxy solicitor, at the special meeting, Capital Gold shareholders adjourned the special meeting until April 1, in order to give the company’s shareholders additional time to consider the increased consideration and to review a supplement to the definitive proxy statement/prospectus to be filed with the Securities and Exchange Commission.


The company said it expects to file the supplemental proxy materials on or about March 21. The adjournment preserves the February 14 record date for the determination of shareholders entitled to receive notice of and to vote at the special meeting.

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