Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) and the board of Exore Resources Ltd (ASX:ERX) (OTCMKTS:NLIOF) have agreed to an arrangement whereby Perseus will acquire 100% of Exore by way of a scheme of arrangement, subject to shareholder approval and court approval.

Perseus managing director and CEO Jeff Quartermaine told Proactive that this arrangement would provide benefits to both companies with Perseus gaining access to highly prospective ground near its operating Sissingue Gold Mine in Cote d’Ivoire, including a 530,000-ounce resource.

He said Exore shareholders would now have the opportunity to participate in the continuing growth of Perseus.

“We hope by the middle of September the matter will be fully resolved subject to a positive view from the Exore shareholders.”