The resulting issuer will continue to run the business of both the companies and carry on trading on the exchange under the trading symbol "PGDC". Hunt Mining Corp., a precious metal exploration and development company, has reportedly announced that it has entered into a deal with Patagonia Gold Plc on the conditions of an arm’s length share exchange offer by the mining company for Patagonia’s whole issued and to be issued ordinary share capital. Following the closure of the transaction, it has been suggested that the company will become a Tier 2 Mining Issuer registered on the TSX Venture Exchange and will be rebranded as Patagonia Gold Corp. The resulting issuer will continue to run the business of both the companies and carry on trading on the exchange under the trading symbol "PGDC". Reportedly, it is expected that the offer will be executed by means of a scheme of arrangement sanctioned by court under Part 26 of the UK Companies Act 2006 (England and Wales), as amended. With this, the stakeholders of Patagonia will own 80 percent of the issued and remaining capital of the resulting issuer upon completion of the proposed transaction. The scheme will constitute a "Reverse Take-Over" of Hunt under the policies of the exchange. The proposed transaction is an arm's length transaction. Apparently, the stakeholders of Patagonia will get around 10.76 common shares in the resulting issuer’s capital in exchange for every ordinary share held by them. Currently, there are 63,588,798 common shares of Hunt issued and remaining, and 23,634,749 Patagonia shares outstanding and issued. It is anticipated that the resulting issuer will have about 317,943,990 common shares issued and outstanding on completion of the scheme, out of which 2Saif Bepari,355,192 or 80 percent will be held by the Patagonia shareholders. As per reliable sources, certain of the shareholders of Hunt hold more than 50 percent of the shares. The company expects to obtain the consent of such shareholders by written consent resolution in accordance with the policies of the exchange. Source credit: http://www.huntmining.com/news-releases/2019/hunt-mining-corp-announces-proposed-reverse-takeover-transaction-patagonia-gold