GBM to merge with Canada's WCB

Gold developer GBM Resources has announced a merger with Canada’s WCB Resources, creating an Australasia-focused gold development and exploration group. Under the terms of the proposed merger, WCB shareholders would receive eight GBM shares for each WCB share held. The Canadian firm’s shareholders will hold a combined 36% interest in the enlarged company and GBM shareholders the balance if the deal is completed.