logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Rugby Mining Completes Acquisition Of Proximo Resources

Oct 27, 2021about 4 years ago

Acquiring Company

Rugby

Acquired Company

Proximo Resources

Natural Resources

Description

Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V: RUG) reports that it has completed its previously announced acquisition of Proximo Resources Pty Ltd (“Proximo”), a private Australian company (the “Acquisition”) (see the Company’s news release dated July 26, 2021). Proximo controls silver and gold projects in Chile and Argentina, including the drill ready Salvadora silver-copper-gold project (the “Salvadora Project”).

Company Information

Company

Rugby

About

Rugby is an exploration company conducting “discovery stage” exploration on targets in Chile, Colombia, Argentina, the Philippines and Australia. The Company controls a portfolio of gold project applications in Colombia that do not require the Department of Forestry approval that stalled the Company’s Cobrasco copper project in Choco Province. These gold project applications have considerable potential for gold, silver and copper discoveries. The Company is optimistic that the Department of Mines could move to grant titles later this year as Covid restrictions ease in Colombia. The Company benefits from the experience of its directors and management, a team that has either been directly responsible for world-class mineral discoveries or have been part of the management teams responsible for such discoveries. Two successful companies under their management were Exeter Resource Corporation and Extorre Gold Mines Limited, which discovered significant deposits in South America. These companies were purchased by Goldcorp (Newmont) and Yamana Gold respectively. For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com. Peter Love, President & CEORob Grey, VP, Corporate CommunicationTel: 604.688.4941 Fax: 604.688.9532Toll-free: 1.855.688.4941Suite 810, 789 West Pender St. Vancouver, BC Canada V6C 1H2info@rugbymining.com

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed