08:44 AM EDT, 10/01/2024 (MT Newswires) -- Eros Resources ( EROSF ) said on Tuesday that it will merge with MAS Gold ( MSGCF ) and Rockridge Resources ( RRRLF ) in two all-shares transactions.

Rockridge shareholders will receive 0.375 common shares of Eros per Rockridge common share, while MAS Gold ( MSGCF ) shareholders will receive 0.25 Eros shares per MAS Gold ( MSGCF ) share. Upon the transaction's close, Eros shareholders will own 42.4% of the combined company, while existing MAS Gold ( MSGCF ) shareholders will own 37.3%. Rockridge shareholders will own 20.3%.

The combined company, to be led by Rockridge's CE0 Jonathan Wiesblatt, will complete a consolidation of outstanding Eros shares on a 10:1 basis.

The combined company will consist of high-grade gold and copper assets in Saskatchewan, with over 77,890 hectares of mineral claims.