ARGONAUT GOLD SHAREHOLDERS OVERWHELMINGLY APPROVE ARRANGEMENT WITH ALAMOS GOLD
The purpose of the Meeting was to consider and vote upon, among other things, the Arrangement Resolution authorizing the Arrangement and approving the transactions contemplated in the arrangement agreement dated
A total of 914,545,409 Shares were represented in person or by proxy at the Meeting, representing approximately 72.06% of the issued and outstanding Shares.
Approval of the Arrangement
For the Arrangement to proceed, the Arrangement Resolution required the approval of at least two-thirds (66⅔%) of the votes cast at the Meeting, by the Shareholders attending in person or voting by proxy.
At the Meeting, the Arrangement Resolution was overwhelmingly approved by 880,202,212 votes cast at the Meeting, representing approximately 99.58% of the Shareholders present in person or represented by proxy at the Meeting. Accordingly, the shareholder approval required in order to proceed with the Arrangement has been obtained.
In addition to the Arrangement Resolution, at the Meeting, the Shareholders also approved: (i) ordinary resolution authorizing the adoption of an omnibus share incentive plan of a wholly-owned subsidiary of Argonaut ("
|
Outcome of Vote |
Votes For |
Votes Withheld |
|
Elected |
875,612,112 99.07% |
8,202,445 0.93% |
|
Elected |
872,060,675 98.67% |
11,753,882 1.33% |
|
Elected |
875,868,587 99.10% |
7,945,970 0.90% |
|
Elected |
874,664,805 98.96% |
9,149,752 1.04% |
|
Elected |
875,585,984 99.07% |
8,228,573 0.93% |
|
Elected |
878,122,046 99.36% |
5,692,511 0.64% |
|
Elected |
875,422,556 99.05% |
8,392,001 0.95% |
The Company extends its appreciation to
Transaction Update
Having obtained the requisite approval of the Arrangement Resolution at the Meeting, the parties are continuing to work diligently towards closing the Arrangement.
The Arrangement is expected to become effective in
Further details regarding the Arrangement and on the above matters are set out in the management information circular of
Spin-off Transaction
The principal assets of
About
Cautionary Note Regarding Forward-looking Statements
This press release contains certain "forward-looking statements" under applicable Canadian securities laws concerning the business, operations and financial performance and condition of
Forward-looking statements are necessarily based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Argonaut and there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include but are not limited to failure to obtain required approvals for the Arrangement.
These factors are discussed in greater detail in Argonaut's most recent annual information form dated
Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Argonaut undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Comparative market information is as of a date prior to the date of this document. Further, the forward-looking statements included herein speak only as of the date of this press release.
SOURCE