03:17 PM EDT, 07/19/2024 (MT Newswires) -- Karora Resources Inc. ( KRRGF ) announced Friday it has got the backing of its own shareholders and the Foreign Investment Review Board (FIRB) regarding the proposed merger deal with Australia-listed Westgold Resources Ltd. ( WGXRF )

Paul Andre Huet, Chairman & CEO, said in a statement: "The approval by approximately 99% of the votes cast on the resolutions regarding the proposed merger transaction with Westgold Resources Limited ( WGXRF ) , along with receipt of FIRB approval, represent two important milestones towards the closing of this transaction."

On July 17, 2024, Westgold reported it had received written confirmation from the FIRB that the Australian Commonwealth Government has no objection to the transaction. The FIRB approval condition contained in the definitive Arrangement Agreement between Westgold and Karora has now been satisfied.

Karora is focused on increasing gold production at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations in Western Australia.

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