Benefits of the Arrangement to Shareholders
- Attractive Premium. The Arrangement Consideration offered to the Shareholders under the Arrangement represents a premium of approximately 39.5% over the closing price of the Shares on
January 20, 2021 , being the last trading day prior to the announcement of the entering into of the definitive arrangement agreement datedJanuary 20, 2021 between Eldorado and QMX (the “Agreement”). - Participation by Shareholders in Future Growth of the Combined Company. Shareholders will receive common shares of Eldorado under the Arrangement and will have the opportunity to participate in any future increase in the value of Eldorado, including the current mineral projects of QMX and the diversified portfolio of producing operations and development projects of Eldorado.
- Increased Ability to Advance the
Bonnefond Project . Eldorado is a leader in responsible mining practices and has a positive track record in developing and operating gold mining properties. Its strong operational expertise and financial capacity will help accelerate the development of theBonnefond Project .
Additional information related to the benefits and related risks of the Arrangement are contained in the Circular.
Board Recommendation
The board of directors of the Company (the “Board”), acting on the unanimous recommendation of a special committee of the Board (the “Special Committee”) and after receiving legal and financial advice, unanimously determined the Arrangement is fair to the Shareholders (other than Eldorado) and is in the best interests of the Company, and recommends the Shareholders vote FOR the Arrangement.
Interim Order
The Company also announced today that the Company has been granted an interim order (the “Interim Order”) from the
Meeting and Circular
The Meeting is scheduled to be held as a virtual-only meeting conducted by live audio webcast available online at https://virtual-meetings.tsxtrust.com/1080 on
The Circular provides important information on the Arrangement and related matters, including the background to the Arrangement, the rationale for the recommendations made by the Special Committee and the Board, voting procedures and how to virtually attend the Meeting. Shareholders are urged to read the Circular and its schedules carefully and in their entirety. The Circular is being mailed to Shareholders in compliance with applicable laws and the Interim Order. The Circular is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.qmxgold.ca.
Shareholder Questions and Assistance
Shareholders who have questions regarding the Arrangement or require assistance with voting may contact
About
QMX is a Canadian based resource company traded on the
About
Eldorado is a gold and base metals producer with mining, development and exploration operations in
Contact Information: | ||
Brad Humphrey | Sandy Noyes | |
President and CEO | Investor Relations & Communications | Public Relations |
snoyes@qmxgold.ca | Tel: (514) 667-2304 | |
Toll free: +1 877-717-3027 | Email: info@qmxgold.ca | Website: www.qmxgold.ca |
North America Toll Free: 1-877-452-7184
Email: assistance@laurelhill.com
Cautionary Note About Forward-Looking Statements and Information
Certain of the information or statements contained in this news release constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws, which are collectively referred to as “forward-looking statements”. When used in this news release, words such as “will”, “to be”, “to seek”, “should”, “potential”, “target”, “strategy” and similar expressions are intended to identify these forward-looking statements as well as phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “occur” or “be achieved” or the negative connotation of such terms. Such forward-looking statements, including but not limited to statements relating to: the transaction and the proposed Arrangement as proposed to be effected pursuant to the Agreement; the ability of the parties to satisfy the conditions to closing of the Arrangement; the anticipated timing of the completion of the Arrangement; and the Meeting involve numerous risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including the risk factors identified in the Circular and the documents incorporated by reference therein along with QMX’s Management’s Discussion and Analysis for the quarter ended
The forward-looking statements in this news release involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein.
Neither
None of the securities to be issued pursuant to the transaction have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the
Source:
2021 GlobeNewswire, Inc., source