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Falco Resources and Golden Queen Announce Golden Queen Shareholders’ Approval at Special Meeting
MONTREAL, March 24, 2020 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX-V: FPC) ("Falco") and Golden Queen Mining Consolidated Ltd. (NEX: GQM.H, OTCQB: GQMND) ("
About this update from Falco Resources Ltd.
[{"type":"text","content":" MONTREAL, March 24, 2020 (GLOBE NEWSWIRE) -- Falco Resources Ltd. (TSX-V: FPC) (\"Falco\") and Golden Queen Mining Consolidated Ltd. (NEX: GQM.H, OTCQB: GQMND) (\"Golden Queen\") are pleased to announce that Golden Queen shareholders approved the plan of arrangement with Falco whereby Falco is to acquire all of the issued and outstanding shares of Golden Queen (the “Transaction”) at the special meeting of shareholders held earlier today (the “Meeting”), approving the Transaction announced on February 11, 2020. The Transaction was approved by 99.64% of the votes cast by Golden Queen shareholders, with shareholders holding 6,033,912 shares or 44.59% of the outstanding shares of the Company present in person or represented by proxy at the Meeting. On closing of the Transaction, Golden Queen shareholders will receive 1.35 Falco shares for each Golden Queen share held. The Transaction is subject to final approval by the TSX Venture Exchange and the Supreme Court of British Columbia (the “Court”), along with other customary conditions. As disclosed in Golden Queen’s management information circular dated February 20, 2020 related to the Meeting (the “Circular”) and provided for in the Interim Order granted by the Court in respect of the Meeting, Golden Queen intended to apply to the Court for the Final Order on March 26, 2020. In light of the suspension of operations at the courts in British Columbia due to Covid-19 the original court date may be delayed. Any Golden Queen securityholder seeking to appear at the hearing of the application for the Final Order must advise Sean K. Boyle of Blake, Cassels & Graydon LLP by email at [email protected]. Only those persons who have advised Mr. Boyle of their intention to appear will be provided with notice of the new hearing date and any filed materials. Additional information regarding the terms of the Transaction are set out the Circular which is available under Golden Queen’s profile at www.sedar.com. About Falco Falco Resources Ltd. is one of the largest mineral claim holders in the Province of Québec, with extensive land holdings in the Abitibi Greenstone Belt. Falco owns about approximately 67,000 hectares of land in the Rouyn-Noranda mining camp, which represents 70% of the entire camp and includes 13 former gold and base metal mine sites. Falco’s principal asset is the Hor...