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Golden Queen Obtains Final Court Order for the Arrangement with Falco Resources
MONTRÉAL, March 26, 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":" MONTRÉAL, March 26, 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 the Supreme Court of British Columbia has granted the final order, thus approving the arrangement between Falco and Golden Queen announced on February 11, 2020 pursuant to which Falco is to acquire all of the issued and outstanding common shares of Golden Queen (the “Arrangement”). Assuming that the remaining closing conditions are satisfied or waived, it is anticipated that closing of the Arrangement will occur on March 27, 2020. On closing of the Arrangement, Golden Queen shareholders will receive 1.35 Falco shares for each Golden Queen share held. Additional information regarding the terms of the Arrangement are set out in the management information circular of Golden Queen dated February 20, 2020 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 Horne 5 Project located in the former Horne mine that was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Gold Royalties Ltd is the largest shareholder of the Corporation and currently owns 19.9% of the issued and outstanding shares of the Corporation. The Corporation has 207,878,736 shares issued and outstanding. For further information, please contact: Luc Lessard President and Chief Executive Officer 514-261-3336 [email protected] Amélie Laliberté Coordinator, Investor Relations [email protected] About Golden Queen Mining Consolidated Ltd. Golden Queen is a company existing under the laws of the Province of British Columbia and is a “reporting issuer” in British Columbia, Alberta, Ontario and Québec. The Golden Queen Shares are currently listed for trading on the NEX under the symbol “GQM.H” and are quoted on the OTCQB under the symbol “GQMND”. For further information, please contact: Brenda Dayton S...