Business
Leading independent advisory firms ISS and Glass Lewis support plan of arrangement between Scorpio Mining and U.S. Silver & Gold
TORONTO , Dec. 11, 2014 /CNW/ - Scorpio Mining Corporation ("Scorpio Mining") (TSX: ...
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"\n\nTORONTO, Dec. 11, 2014 /CNW/ - Scorpio Mining Corporation (\"Scorpio Mining\") (TSX: SPM) and U.S. Silver & Gold Inc. (\"U.S. Silver & Gold\") (TSX: USA)(OTCQX: USGIF) are pleased to announce that both Institutional Shareholder Services Inc. (\"ISS\") and Glass Lewis & Co. (\"Glass Lewis\"), two leading independent proxy advisory firms, have recommended that shareholders of Scorpio Mining and shareholders of U.S. Silver & Gold support the proposed plan of arrangement (the \"Arrangement\") between the two companies at their special meetings scheduled for December 18, 2014.\n\nWhile endorsing the Arrangement, ISS noted that: \"[…] the arrangement makes strategic sense as the combined entity will benefit from a diversified production base, an improved cash cost profile, a proven management team, a solid financial position, a robust reserve and resource base, an enhanced market presence, and a compelling value proposition\". \n\nAll Scorpio Mining and U.S. Silver & Gold shareholders are encouraged to read their respective information circulars with respect to the Arrangement, which were mailed to Scorpio Mining and U.S. Silver & Gold shareholders of record as of November 18, 2014 and are available on SEDAR at www.sedar.com. The information circulars provided by both Scorpio Mining and U.S. Silver & Gold contain a detailed description of the Arrangement and a description of Scorpio Mining after giving effect to the Arrangement. The Boards of Directors of both Scorpio Mining and U.S. Silver & Gold have each unanimously recommended that their shareholders vote in favour of the resolutions with respect to the Arrangement.\n\n\n\n\n\n\n\nScorpio Mining shareholders are reminded to vote before the proxy cut-off of 10:00 a.m. (Toronto time) on December 16, 2014.\n\n\n\n\n\n\n\n\n\n\n\nU.S. Silver & Gold shareholders are reminded to vote before the proxy cut-off of 9:00 a.m. (Toronto time) on December 16, 2014.\n\n \n\nShorecrest Group Ltd. (\"Shorecrest\") has been retained by Scorpio Mining and U.S. Silver & Gold as proxy solicitor in connection with the Arrangement. Shareholders with questions can contact Shorecrest at 1-888-637-5789, collect call outside North America at 1-647-931-7454 or email at [email protected].\n\nISS is the world's leading provider of co...