IronRidge Resources completes acquisition of Tekton Minerals in Chad

IronRidge Resources has completed the acquisition of Tekton Minerals, owner of a prospective gold exploration portfolio in Chad, ahead of schedule.

The AIM listed company said that it had completed the acquisition of 100% of Tekton in a country with a highly prospective gold exploration portfolio, and of which recently acquired status as an oil-exporting state.

Both major and minority shareholders of Tekton had already endorsed IronRidge's vision and strategy by electing full consideration in the company's shares, said the board.

Major shareholders also voluntarily escrowed their IronRidge shares for 12 months, it added.

Vincent Mascolo, the chief executive officer of IronRidge, specifically commented on the Tekton teams francophone connections and government relations expertise throughout West and Central Africa.

"The Tekton team offers extensive francophone exploration, logistics and government relations expertise gained throughout West and Central Africa, providing valuable synergies with the IronRidge team and its growth strategy", said Mascolo.