04:23 PM EDT, 06/30/2020 (MT Newswires) -- Manitou Gold (MTU.V) on Tuesday said it completed the acquisition of the Shihan property in Ontario for shares worth C$56,000.

The company said it paid the sellers 1.4 million shares for the property, which will be rolled into its existing Goudreau project.

Manitou issued a further 3.1 million shares to satisfy option payments due on its Stover and Renabie East properties, while Alamos Gold (AGI.TO) acquired 1.12 million shares at a deemed price of C$0.05 each to maintain its 19.9% stake in the company.

The company's shares closed up C$0.005 to C$0.04 on the TSX Venture Exchange.

Price: 0.0400, Change: +0.0050, Percent Change: +14.29