Business
Auryn and Eastmain Receive Court Approvals to Complete Arrangements
VANCOUVER, BC and TORONTO, ON / ACCESSWIRE / October 7, 2020 / Auryn Resources Inc. (TSX:AUG...
About this update from Fury Gold Mines Limited
[{"type":"text","content":"Auryn and Eastmain Receive Court Approvals to Complete ArrangementsVANCOUVER, BC and TORONTO, ON / ACCESSWIRE / October 7, 2020 / Auryn Resources Inc. (TSX:AUG) (NYSE American:AUG) (\"Auryn\") and Eastmain Resources Inc. (TSX:ER) (\"Eastmain\") jointly announce that today they received final orders from the British Columbia Supreme Court and the Ontario Superior Court of Justice, respectively, to implement the previously announced plans of arrangement (the \"Transaction\").Pursuant to the Transaction, Auryn will acquire Eastmain after spinning out its Peruvian assets into two new companies and distributing the shares of those companies to Auryn's shareholders. The Transaction will also create Fury Gold Mines Limited (\"Fury Gold\"), a leading developer of Canadian gold projects. Fury Gold will receive the net proceeds of the previously completed C$23 million financing, which are being held in escrow pending completion of the Transaction.The final orders represent one of the remaining conditions for completion of the Transaction. Subject to satisfaction or waiver of all remaining conditions, closing of the Transaction is expected to occur on October 9, 2020.It is expected that shares of Fury Gold (TSX and NYSE American: FURY) will begin trading on the NYSE American Exchange on October 12, 2020 and on the Toronto Stock Exchange (the \"TSX\") on October 13, 2020. It is also expected that Eastmain will be delisted from the TSX and removed from the OTCQB after the end of trading on October 9, 2020.Full details of the Transaction, including its principal completion conditions can be found in each of Auryn's and Eastmain's management information circulars dated September 3, 2020 and filed under each of their profiles at www.sedar.com.ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.Ivan BebekExecutive Chairman and DirectorON BEHALF OF THE BOARD OF DIRECTORS OF EASTMAIN RESOURCES INC.Blair SchultzInterim President and CEOFor further information please contact:Auryn ResourcesNatasha Frakes, Manager of Corporate [email protected] ResourcesBlair Schultz, Interim President and [email protected] AurynAuryn Resources Inc. is a technically-driven, well-financed junior exploration company focused on finding and advancing globally significant precious and base metal deposi...