White Tiger, Century inch forward with merger, (TSE: WTG), (CMM)

Two small Canadian gold miners, controlled or partially controlled by Russian investor Maxim Finskiy, are moving ahead with a controversial merger that has faced vocal opposition from a group of minority shareholders. White Tiger Gold (WTG.TO) and Century Mining (CMM.V) said on Tuesday they have entered into a binding agreement that will see Century become a wholly-owned subsidiary of White Tiger. Finskiy owns about 25 percent of Century and 74 percent of White Tiger, according to Thomson Reuters data. Under the updated terms of the agreement, Century shareholders can choose to receive 0.40 of a White Tiger share for each Century common share, or they can elect to take 0.40 of an exchangeable share of a wholly-owned subsidiary of White Tiger, known as AcquisitionCo.