Business
Big River Gold shareholders vote in favour of acquisition by Aura Minerals
ROAD TOWN, British Virgin Islands, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX:ORA, B3:AURA33) (“Aura” or the “Company”) is pleased to inform tha
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX:ORA, B3:AURA33) (“Aura” or the “Company”) is pleased to inform that Big River Gold Limited (ASX:BRV) (“Big River”) announced today in a Press Release that the requisite majorities of each class of shareholders voted in favour of the proposed scheme of arrangement (“Scheme”), pursuant to which Borborema LLC, an indirect wholly-owned subsidiary of Aura (“BidCo”) will acquire all of the shares in Big River (other than the shares held by Dundee Resources). As previously disclosed, Aura will hold its interest in BidCo through an intermediate holding company (“JVCo”) with Dundee Resources which agreed, subject to certain limited conditions, to receive shares in JVCo, in lieu of the cash consideration, in order to indirectly maintain an equity interest in Big River and form a joint venture with Aura. Further details of the transaction shall be informed in a specific Press Release after the confirmation of approval of the Scheme by the Supreme Court of Western Australia (“Court”) at a second court hearing scheduled for September 8, 2022 (“Second Court Hearing”). Next steps Big River will now seek approval of the Scheme from the Court at the Second Court Hearing. If the Court approves the Scheme at the Second Court Hearing, it is expected that the Scheme will take effect on September 9, 2022. Scheme implementation is expected to occur on September 20, 2022, subject to the satisfaction or waiver of the remaining conditions precedent to the Scheme, including approval by the Court at the Second Court Hearing. About Aura 360° Mining Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining. Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria. For further informat...