Business
Aquila Resources Shareholders Overwhelmingly Approve Acquisition by Gold Resource Corporation
DENVER, CO / ACCESSWIRE / November 17, 2021 / Gold Resource Corporation ( "GRC" or the "Company") (NYSE American:GORO) is pleased to announce that at the Aquila
About this update from Gold Resource Corporation
[{"type":"text","content":" DENVER, CO / ACCESSWIRE / November 17, 2021 / Gold Resource Corporation ( \"GRC\" or the \"Company\") (NYSE American:GORO) is pleased to announce that at the Aquila Resources Inc. (\"Aquila\") special meeting of shareholders (the \"Meeting\") held earlier today, an overwhelming majority of Aquila shareholders voted in favor of the special resolution (the \"Arrangement Resolution\") approving the previously announced plan of arrangement pursuant to which the Company will acquire all of the issued and outstanding common shares (\"Shares\") of Aquila (the \"Transaction\"). The Transaction required the approval of (i) 66⅔ percent of the votes cast by Aquila shareholders and (ii) a simple majority of the votes cast by the minority shareholders (excluding shareholders whose votes are required to be excluded pursuant to Multilateral Instrument 61 - 101). Shareholders holding a total of 208,546,503 Shares (60.701% of the Shares issued and outstanding as of the record date for the Meeting) were represented in person or by proxy at the Meeting. Of the votes cast at the Meeting, 98.884% were in favor of the Arrangement Resolution (98.864% after excluding votes cast by shareholders whose votes are required to be excluded pursuant to Multilateral Instrument 61 - 101). Allen Palmiere, President and Chief Executive Officer of the Company, commented, \"I would like to thank Aquila shareholders for their strong support of the Transaction. We look forward to closing the Transaction in short order and are excited to work with the team and all stakeholders to advance the Back Forty Project to production.\" Closing of the Transaction remains subject to certain closing conditions, including approval of the Ontario Superior Court of Justice (Commercial List). Subject to the satisfaction or waiver of the closing conditions that remain outstanding, closing of the Transaction is expected to occur in the coming weeks. About Gold Resource Corporation Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Under the direction of a new board and senior leadership, the Company focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine, to close our acquisition of Aquila Resources Inc., and to...