TORONTO, Jan. 25, 2012 /CNW/ - Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices:
The shareholders of Minera Andes Inc. (TSX:MAI) and US Gold Corp. (NYSE:UXG) have approved the business combination between the two companies. Minera Andes will be removed from the S&P/TSX Global Mining Index after the close of Thursday, January 26, 2012. Following the acquisition of Minera Andes Inc., US Gold Corp. will change its name to McEwen Mining Inc. and its ticker symbol to MUX. The GICS classification of US Gold Corp. will change from 15104030 to 15104040 effective at the same time as the acquisition of Minera Andes. US Gold Corp. will be removed from the S&P/TSX Global Gold Index as a result of the GICS change. The relative weight of McEwen Mining Inc. will increase in the S&P/TSX Global Mining Index to reflect the issuance of shares as part of the acquisition of Minera Andes Inc.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
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