Catalpa, Conquest announce new name

Catalpa Resources and Conquest Mining will be known as Evolution Mining upon completion of their friendly all-scrip merger.

The companies said the name Evolution had been selected to embody the transformational nature of the transaction, which will form a gold mining company with a market capitalisation of more than $1.1 billion

The merger remains subject to shareholder approval, which will be sought at respective Catalpa and Conquest meeting scheduled for October 14.

Catalpa shareholders will also vote on the name change.

The merger has been fully endorsed and recommended by both companies’ boards of directors.

At 10:52AM WST Catalpa’s stock had lost 5 cents, to $1.97, while Conquest had lost 2 cents, to trade at 58 cents.