The pair announced the plan for a friendly merger last monthwhich will see Jacka's shareholders offered 0.468 Tangiers shares for each share they hold in Jacka.
This carried an implied value of 11.2 cents (US$0.098) per share, based on Tangier's closing price on 29 November, representing a 56% premium to Jacka's closing price on the same day.
In a letter to shareholders on Tuesday, Jacka chairman Scott Spencer said the company's board believed the offer was the best solution to Jacka's funding issues in the short and medium term.
He
