18 Jun 2014 13:53

Shareholders in Canadian Northquest approve Nordgold deal

MOSCOW. June 18 (Interfax) - Shareholders in Canadian mineral exploration and development company Northquest have approved a private placement of shares in favor of Russian goldminer Nordgold, Northquest said in a statement.

The transaction will give Nordgold a 22.3% stake in Northquest, which could be increased to roughly 30% through the exercise of warrants.