G Mining Ventures Announces Shareholder Approval of Arrangement with Reunion Gold
TSX
: GMIN
OTCQX
: GMINF
All amounts are in USD unless stated otherwise
-
G Mining shareholders overwhelmingly approved the combination with Reunion Gold - The arrangement is expected to close on or around
July 15 th, 2024 - The
$50 million private placement with La Mancha and Franco-Nevada was also approved and is expected to close on or aroundJuly 12 th, 2024
For the Arrangement to proceed, the Arrangement Resolution required approval by (i) at least two-thirds of the votes cast by the Shareholders present in person or represented by proxy at the Meeting, (ii) a majority of the votes cast by the Shareholders present in person or represented by proxy at the Meeting, excluding the votes attached to the shares held by La Mancha Investments S.à r.l. ("La Mancha") and its related parties and joint actors; and (iii) pursuant to the rules of the TSX, a majority of the votes cast by the Shareholders present in person or represented by proxy at the Meeting.
The Arrangement Resolution was approved as detailed below:
|
Votes For |
% For |
Votes Against |
% Against |
Total votes |
405,748,930 |
100.00 % |
16,258 |
0.00 % |
Votes excluding La Mancha |
293,869,665 |
99.99 % |
16,258 |
0.01 % |
At the Meeting, Shareholders also approved the subscription price of
For the GMIN Private Placements to proceed, the resolution approving the subscription price (the "GMIN Private Placements Resolution") required approval by a majority of the votes cast by the Shareholders present in person or represented by proxy at the Meeting, excluding the votes attached to the shares held by La Mancha and Franco-Nevada and their associates and affiliates.
The GMIN Private Placements Resolution was approved as detailed below:
|
Votes For |
% For |
Votes Against |
% Against |
Votes excluding La Mancha and Franco-Nevada |
248,771,832 |
99.83 % |
426,591 |
0.17 % |
In addition to the Arrangement Resolution and the Private Placements Resolution, at the Meeting, Shareholders also approved:
1. the election of
|
Votes For |
% For |
Votes Against |
% Against |
|
395,641,126 |
97.50 % |
10,124,062 |
2.50 % |
|
405,729,330 |
99.99 % |
35,858 |
0.01 % |
|
385,298,337 |
94.96 % |
20,466,851 |
5.04 % |
|
401,414,401 |
98.93 % |
4,350,787 |
1.07 % |
|
402,400,611 |
99.17 % |
3,364,577 |
0.83 % |
|
385,881,079 |
95.10 % |
19,884,109 |
4.90 % |
|
405,727,561 |
99.99 % |
37,627 |
0.01 % |
|
404,150,610 |
99.60 % |
1,614,578 |
0.40 % |
|
400,959,041 |
98.82 % |
4,806,147 |
1.18 % |
2. the appointment of
Votes For |
% For |
Votes Withheld |
% Withheld |
412,562,710 |
99.95 % |
186,679 |
0.05 % |
3. certain amendments to the by-laws of GMIN, as detailed below:
Votes For |
% For |
Votes Against |
% Against |
391,479,929 |
96.48 % |
14,285,259 |
3.52 % |
Transaction Update
In addition to the approval by GMIN shareholders, GMIN was advised that Reunion Gold shareholders approved the Arrangement at their annual general and special meeting held earlier today.
The Arrangement is expected to become effective on or around
The GMIN Private Placements are expected to close on or around
Additional details about the Arrangement, the GMIN Private Placements and the other matters in respect of which the Shareholders voted earlier today can be found in the joint management information circular dated
About
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the anticipated closing of the GMIN Private Placements on or around
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such
assumptions include, without limitation, those relating to the price of gold and currency exchange rates and those underlying the items listed on the above section entitled "About
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, the Corporation will (i) bring its
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of
View original content to download multimedia:https://www.prnewswire.com/news-releases/g-mining-ventures-announces-shareholder-approval-of-arrangement-with-reunion-gold-302192583.html
SOURCE