06:54 AM EST, 12/20/2024 (MT Newswires) -- Aura Minerals ( ORAAF ) late on Thursday said the securityholders of Bluestone Resources ( BBSRF ) have approved Bluestone's acquisition of Aura.

The deal was approved by around 99.5% of the votes cast by Bluestone's shareholders, 99.5% of the votes cast by Bluestone shareholders and optionholders voting together as a single class, and 99.5% of the votes cast by Bluestone shareholders other than votes attached to the common shares required to be excluded.

Bluestone shareholders were able to elect to receive $0.287 in cash for each Bluestone share held, or 0.0183 common shares of Aura for each Bluestone share held, or a combination of both.

The initial consideration is subject to maximum Aura shares issuable of 1.4 million shares, representing 50% of the upfront consideration.

Bluestone shareholders will also receive contingent consideration in the form of contingent value rights providing the holder with the potential to receive a cash payment of up to $0.2120 for each share held, payable in three equal annual installments, upon Cerro Blanco achieving commercial.

The deal is subject to approval of the Supreme Court of British Columbia. Bluestone expects to receive a final order from the court on Jan. 6, 2025.

Following the court's decision, the transaction is scheduled to close on Jan. 13, 2025.