TSXV: NOVR
OTCQB: NOVRF
ISS and Glass Lewis are leading independent, third-party proxy advisory firms who provide voting recommendations to pension funds, investment managers, mutual funds, and other institutional shareholders.
In making the recommendation, ISS commented:
"The transaction makes strategic sense as it should increase diversification, scale, financial flexibility, reduce costs, and be ultimately accretive on a NAV-per-share basis. Shareholders will retain the ability to participate in the upside represented by the combined company. The board and special committee engaged in a robust auction process which facilitated price discovery and what appears to be a credible valuation."
Glass Lewis commented:
"We believe there is a reasonable basis to conclude that the proposed arrangement represents the best opportunity to enhance shareholder value going forward. Given the reasonable exchange ratio as well as the opportunity for Nova shareholders to participate in a larger, more diversified and better financed company, we believe the proposed arrangement is strategically and financially compelling."
"We are pleased to receive positive recommendations from ISS and Glass Lewis, which reaffirm our strategic rationale for the Arrangement and the resulting benefits to Shareholders."
The Meeting is scheduled to be held at the offices of
YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY The proxy voting deadline is The Board of Directors of Nova (excluding certain conflicted directors), after receiving the |
Full details of the Arrangement are described in the management information circular of Nova dated
Shareholders who have questions about the Arrangement or require voting assistance may contact Nova's strategic shareholder advisor and proxy solicitation agent,
Toll Free: 1-877-452-7184 in North America Toll-free (416-304-0211
Email: assistance@laurelhill.com
On Behalf of
Interim CEO
Phone: (647) 970-4113
Website: www.novaroyalty.com
Neither the
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively referred to herein as "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this press release include: statements with respect to the Arrangement; receipt of shareholder approval in respect of the Arrangement; statements with respect to the benefits of the Arrangement and enhancement of shareholder value; and other statements that are not historical facts. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Nova to control or predict, that may cause Nova's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the Company not obtaining the final order, or Shareholder or stock exchange approvals; all conditions to completion of the Arrangement not being satisfied or waived and the Arrangement not being completed as anticipated; and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated
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